27 April 2010

HeidelbergCement secures liquidity until end of 2013

HeidelbergCement has signed a new, self-arranged EUR 3 billion syndicated credit facility with a group of 17 banks. The new credit facility will be used for repaying bank debt remaining under the old credit facility that had been agreed with 60 banks in June 2009 with a maturity in December 2011. The new credit facility is mainly intended as liquidity back-up and has a maturity date of 31 December 2013. HeidelbergCement thereby strengthens its financial and operational flexibility. At the same time, the security package granted to the creditors could be reduced significantly compared with the old credit facility.

“The new syndicated credit facility agreement secures sufficient liquidity for our company until the end of 2013 at clearly better conditions,” says Dr. Bernd Scheifele, CEO of HeidelbergCement. “The fact that we were able to keep the number of institutions for such a sizeable credit line on a low level reflects the strength of our relationships with the banks. The stabilization of our financing is another important milestone on our way to improved credit ratings and a benefit for the existing bond holders.”

The new, syndicated credit facility has been concluded with the following 17 banks: Bank of America / Merrill Lynch, Bayern LB, BNP / Fortis, Citigroup, Commerzbank, Deutsche Bank, Svenska Handelsbanken, Helaba, ING, Intesa, LBBW, Mediobanca, Morgan Stanley, Nordea, RBS, RZB and SEB. The syndicated credit facility can be used for cash drawdowns as well as for letters of credit and guarantees. The credit margin is clearly lower than for the existing syndicated credit facility and would improve further with a declining ratio of net debt to EBITDA.

About HeidelbergCement

HeidelbergCement is the global market leader in aggregates and a prominent player in the fields of cement, concrete and other downstream activities, making it one of the world’s largest manufacturers of building materials. The company employs some 53,000 people at 2,500 locations in more than 40 countries.

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Andreas Schaller

Group Spokesman, Director Group Communication & Investor Relations
Tel: 
+49 6221 481 13249
Fax: 
+49 6221 481 13217
HeidelbergCement AG
Berliner Straße 6
69120 Heidelberg
Germany

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