Builders' Merchants News

Lafarge 1bn euro bond will slash debt

Published:  20 May, 2009

PARIS: Lafarge, a major supplier of buiding materials, is taking steps to optimise the maturity profile of its Group's debt. Under its EMTN (euro medium term note) programme, the Group placed a £350m bond with an eight-year maturity and fixed annual coupon of 8.75%. 

In addition, the Group privately placed a bond for a principal amount of 250m euros with an eight-year maturity.

In combination with yesterday's 1bn euro bond, the proceeds will further improve the liquidity of the Group.

The settlement and issue of the pound sterling bond is expected on May 29. Barclays, HSBC and RBS acted as joint-lead managers and bookrunners for this bond issue.