CRH Prices $1.5 Billion Senior Notes Offering

Ticker: CRH · Form: 8-K · Filed: 2024-08-08T00:00:00.000Z

Sentiment: neutral

Topics: debt-offering, financing, notes

TL;DR

CRH just priced a massive $1.5B debt offering across three different note series.

AI Summary

CRH Public Ltd Co announced on August 8, 2024, that it has priced an offering of senior notes. The offering includes $500 million of 5.2% guaranteed notes due 2029, $500 million of 6.4% notes due 2033, and $500 million of 5.4% guaranteed notes due 2034. The aggregate principal amount of the notes is $1.5 billion.

Why It Matters

This offering of $1.5 billion in senior notes indicates CRH's strategy to raise capital, likely for ongoing operations, potential acquisitions, or refinancing existing debt, impacting its financial structure and future investment capacity.

Risk Assessment

Risk Level: medium — Issuing a significant amount of debt can increase financial leverage and interest expenses, potentially impacting profitability and financial flexibility.

Key Numbers

Key Players & Entities

FAQ

What is the total principal amount of the senior notes offering?

The total principal amount of the senior notes offering is $1.5 billion, comprised of $500 million of 5.2% guaranteed notes due 2029, $500 million of 6.4% notes due 2033, and $500 million of 5.4% guaranteed notes due 2034.

When did CRH Public Ltd Co price this offering?

CRH Public Ltd Co priced this offering on August 8, 2024.

What are the maturity dates for the notes being issued?

The notes being issued mature in 2029, 2033, and 2034.

What are the interest rates for each series of notes?

The interest rates are 5.2% for the notes due 2029, 6.4% for the notes due 2033, and 5.4% for the notes due 2034.

What is the jurisdiction of incorporation for CRH Public Ltd Co?

CRH Public Ltd Co is incorporated in Ireland.

From the Filing

0001628280-24-035820.txt : 20240808 0001628280-24-035820.hdr.sgml : 20240808 20240808060226 ACCESSION NUMBER: 0001628280-24-035820 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240808 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240808 DATE AS OF CHANGE: 20240808 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CRH PUBLIC LTD CO CENTRAL INDEX KEY: 0000849395 STANDARD INDUSTRIAL CLASSIFICATION: CEMENT, HYDRAULIC [3241] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 STATE OF INCORPORATION: L2 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32846 FILM NUMBER: 241185804 BUSINESS ADDRESS: STREET 1: STONEMASON'S WAY, RATHFARNHAM CITY: DUBLIN 16 STATE: L2 ZIP: D16 KH51 BUSINESS PHONE: 353 1 404 1000 MAIL ADDRESS: STREET 1: STONEMASON'S WAY, RATHFARNHAM CITY: DUBLIN 16 STATE: L2 ZIP: D16 KH51 8-K 1 crh-20240808.htm 8-K crh-20240808 false 0000849395 0000849395 2024-08-08 2024-08-08 0000849395 us-gaap:CommonStockMember 2024-08-08 2024-08-08 0000849395 crh:FivePointTwoPercentGuaranteedNotesDue2029Member 2024-08-08 2024-08-08 0000849395 crh:SixPointFourPercentNotesDue2033Member 2024-08-08 2024-08-08 0000849395 crh:FivePointFourPercentGuaranteedNotesDue2034Member 2024-08-08 2024-08-08 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 8, 2024 CRH public limited company (Exact name of registrant as specified in its charter) Ireland 001-32846 98-0366809 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) Stonemason's Way, Rathfarnham, Dublin 16, D16 KH51 , Ireland (Address of principal executive offices) +353 1 404 1000 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d 2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Ordinary Shares of €0.32 each CRH New York Stock Exchange 5.200% Guaranteed Notes due 2029 CRH/29 New York Stock Exchange 6.400% Notes due 2033 CRH/33A New York Stock Exchange 5.400% Guaranteed Notes due 2034 CRH/34 New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter) ☐ Emerging Growth Company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(e) of the Exchange Act ☐ Item 2.02    Results of Operations and Financial Condition. On August 8, 2024, CRH public limited company (the “Company”) issued a press release announcing the financial results of the Company for the fiscal quarter ended June 30, 2024. A copy of the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The Comp

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