25 February 2014

HeidelbergCement signs new five year €3 billion revolving credit facility

HeidelbergCement has signed a new €3 billion syndicated credit facility with a term of five years to refinance the existing credit facility which would have expired in December 2015. The revolving credit line was early refinanced due to favorable market conditions. HeidelbergCement was able to execute the new self-arranged facility with significantly improved terms and conditions. There was massive demand from the banking sector to enter the new facility but HeidelbergCement limited the participation exclusively to the lenders of the former credit facility. The new multicurrency credit facility is intended as liquidity back-up and can be used for cash drawdowns as well as for letters of credit and guarantees.

The new credit facility offers significantly better terms and conditions compared to the previous one. Out of the box margin is reduced from 125 bps to 95 bps. In addition, formerly existing upstream guarantees and share pledges could be removed.

“The new syndicated credit facility agreement secures sufficient liquidity back-up for our company until 2019 at clearly better conditions,” says Dr. Bernd Scheifele, CEO of HeidelbergCement. “The fact that we were able to maintain the same banking group while securing better terms and conditions without any security reiterates the excellent reputation of HeidelbergCement in the banking sector and reflects the strength of our relationships with the banks. The removal of all securities and upstream guarantees is another important milestone on our way back to improved credit ratings and benefits all bond holders who now rank pari passu with all bank lenders.”

The following banks were mandated as bookrunners and Mandated Lead Arrangers in this transaction: Bank of America Merrill Lynch, Bayern LB, BNP Paribas, Citigroup, Commerzbank, Danske Bank, Deutsche Bank, Svenska Handelsbanken, Helaba, ING Bank, Intesa Sanpaolo, LBBW, Mediobanca, Morgan Stanley, Nordea, RBI, RBS, SEB and Standard Chartered. Deutsche Bank is acting as documentation and facility agent.

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 52,600 people at 2,500 locations in more than 40 countries.

Andreas Schaller

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