CRH Prices $2.75 Billion in New Notes

Ticker: CRH · Form: 8-K · Filed: 2024-10-22T00:00:00.000Z

Sentiment: neutral

Topics: debt-offering, financing, notes

TL;DR

CRH just dropped $2.75B in new notes across 3 tranches. Debt management play.

AI Summary

On October 22, 2024, CRH Public Ltd Co. announced the pricing of its new senior notes. The company priced $1.0 billion of 5.200% guaranteed notes due 2029, $750 million of 6.400% notes due 2033, and $1.0 billion of 5.400% guaranteed notes due 2034. These offerings are part of CRH's ongoing strategy to manage its capital structure and fund general corporate purposes.

Why It Matters

CRH's issuance of new debt indicates a strategic move to refinance existing obligations or fund growth initiatives, potentially impacting its leverage and future financial flexibility.

Risk Assessment

Risk Level: medium — Issuing significant amounts of new debt can increase a company's financial leverage and interest expense, which could pose risks if market conditions or the company's performance deteriorates.

Key Numbers

Key Players & Entities

FAQ

What is the total principal amount of the senior notes CRH Public Ltd Co. priced?

CRH Public Ltd Co. priced a total of $2.75 billion in senior notes across three tranches.

What are the maturity dates and interest rates for the new notes?

The notes include $1.0 billion of 5.200% guaranteed notes due 2029, $750 million of 6.400% notes due 2033, and $1.0 billion of 5.400% guaranteed notes due 2034.

What is the purpose of this debt issuance?

The filing states the proceeds are intended for general corporate purposes, which may include refinancing existing debt or funding strategic initiatives.

When was the pricing of these notes announced?

The pricing of these notes was announced on October 22, 2024.

What jurisdiction is CRH Public Ltd Co. incorporated in?

CRH Public Ltd Co. is incorporated in Ireland.

From the Filing

0001628280-24-043279.txt : 20241022 0001628280-24-043279.hdr.sgml : 20241022 20241022160705 ACCESSION NUMBER: 0001628280-24-043279 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20241022 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20241022 DATE AS OF CHANGE: 20241022 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: 241386400 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-20241022.htm 8-K crh-20241022 false 0000849395 0000849395 2024-10-22 2024-10-22 0000849395 us-gaap:CommonStockMember 2024-10-22 2024-10-22 0000849395 crh:FivePointTwoPercentGuaranteedNotesDue2029Member 2024-10-22 2024-10-22 0000849395 crh:SixPointFourPercentNotesDue2033Member 2024-10-22 2024-10-22 0000849395 crh:FivePointFourPercentGuaranteedNotesDue2034Member 2024-10-22 2024-10-22 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): October 22, 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 6.40% 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 8.01    Other Events. On October 22, 2024, CRH public limited company released a notification of transactions by persons discharging managerial responsibilities, which is filed as Exhibit 99.1 hereto. Item 9.01    Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Notification of CRH public limited company, dated October 22, 2024 104 Cover Page Interactive Data Fil

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