CRH Prices $2.25 Billion in Senior Notes
Ticker: CRH · Form: 8-K · Filed: Dec 13, 2024 · CIK: 849395
Sentiment: neutral
Topics: debt-offering, financing, notes
TL;DR
CRH just dropped $2.25B in notes across three tranches. Big debt raise.
AI Summary
On December 13, 2024, CRH Public Ltd Co. announced the pricing of its offering of senior notes. The offering includes $750 million of 5.2% guaranteed notes due 2029, $750 million of 6.4% notes due 2033, and $750 million of 5.4% guaranteed notes due 2034. The company expects to use the net proceeds for general corporate purposes.
Why It Matters
CRH has successfully raised significant capital through this debt offering, which could fund future growth initiatives or acquisitions.
Risk Assessment
Risk Level: medium — Issuing a substantial amount of debt increases financial leverage and interest expense for CRH.
Key Numbers
- $2.25B — Total Senior Notes Offering (CRH raised $750M in 2029 notes, $750M in 2033 notes, and $750M in 2034 notes.)
- 5.2% — Interest Rate on 2029 Notes (This is the coupon rate for the guaranteed notes due in 2029.)
- 6.4% — Interest Rate on 2033 Notes (This is the coupon rate for the notes due in 2033.)
- 5.4% — Interest Rate on 2034 Notes (This is the coupon rate for the guaranteed notes due in 2034.)
Key Players & Entities
- CRH Public Ltd Co. (company) — Registrant
- 5.2% guaranteed notes due 2029 (dollar_amount) — Debt Offering
- $750 million (dollar_amount) — Principal Amount of 5.2% Notes
- 6.4% notes due 2033 (dollar_amount) — Debt Offering
- $750 million (dollar_amount) — Principal Amount of 6.4% Notes
- 5.4% guaranteed notes due 2034 (dollar_amount) — Debt Offering
- $750 million (dollar_amount) — Principal Amount of 5.4% Notes
- December 13, 2024 (date) — Report Date
- December 10, 2024 (date) — Earliest Event Reported
FAQ
What is the total principal amount of the senior notes CRH Public Ltd Co. is offering?
CRH Public Ltd Co. is offering a total of $2.25 billion in senior notes, comprised of $750 million of 5.2% guaranteed notes due 2029, $750 million of 6.4% notes due 2033, and $750 million of 5.4% guaranteed notes due 2034.
What are the maturity dates for the different tranches of notes being offered?
The notes being offered mature in 2029 (5.2% guaranteed notes), 2033 (6.4% notes), and 2034 (5.4% guaranteed notes).
What is the stated purpose for the net proceeds from this debt offering?
The company expects to use the net proceeds from the offering for general corporate purposes.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on December 10, 2024.
What is the jurisdiction of incorporation for CRH Public Ltd Co.?
CRH Public Ltd Co. is incorporated in Ireland.
Filing Stats: 457 words · 2 min read · ~2 pages · Grade level 11.1 · Accepted 2024-12-13 16:05:56
Filing Documents
- crh-20241213.htm (8-K) — 34KB
- form8-kxex99113december2024.htm (EX-99.1) — 19KB
- form8-kxex99213december2024.htm (EX-99.2) — 20KB
- 0001628280-24-051188.txt ( ) — 259KB
- crh-20241213.xsd (EX-101.SCH) — 3KB
- crh-20241213_def.xml (EX-101.DEF) — 17KB
- crh-20241213_lab.xml (EX-101.LAB) — 31KB
- crh-20241213_pre.xml (EX-101.PRE) — 18KB
- crh-20241213_htm.xml (XML) — 6KB
01 Other Events
Item 8.01 Other Events. On December 13, 2024, CRH public limited company released notifications of transactions by persons discharging managerial responsibilities, which are filed as Exhibits 99.1 and 99.2, respectively, hereto .
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Notification of CRH public limited company, dated December 13, 2024 99.2 Notification of CRH public limited company, dated December 13, 2024 104 Cover Page Interactive Data File (formatted in Inline XBRL)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: December 13, 2024 CRH public limited company /s/ Neil Colgan By: Neil Colgan Company Secretary