Building materials group CRH redeemed its most expensive bond debt Tuesday as it issued two new US dollar bonds through its US unit, CRH America. Separately, CRH issued $1.5 billion in debt in two parts. The first, a $900 million 10-year bond, carried a coupon of 3.95 per cent while the second, a 30-year $600 million bond, carried a coupon of 4.5 per cent. “The exercise again highlights the group’s financial strength with final pricing for the new issues coming in significantly better than initial indications,” Mr Gardiner said. The 2018 bond was originally issued as a $650 million bond in July 2008.

Source: The Irish Times March 28, 2018 08:15 UTC