CRH Prices $2.25 Billion in Senior 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

From the Filing

0001628280-24-051188.txt : 20241213 0001628280-24-051188.hdr.sgml : 20241213 20241213160556 ACCESSION NUMBER: 0001628280-24-051188 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20241213 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20241213 DATE AS OF CHANGE: 20241213 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: 241548376 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-20241213.htm 8-K crh-20241213 false 0000849395 0000849395 2024-12-13 2024-12-13 0000849395 us-gaap:CommonStockMember 2024-12-13 2024-12-13 0000849395 crh:FivePointTwoPercentGuaranteedNotesDue2029Member 2024-12-13 2024-12-13 0000849395 crh:SixPointFourPercentNotesDue2033Member 2024-12-13 2024-12-13 0000849395 crh:FivePointFourPercentGuaranteedNotesDue2034Member 2024-12-13 2024-12-13 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): December 13, 2024 (December 10, 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 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 . Item 9.01    Financial Statements and Exhibits. (d)    Exhibits. Exhibit No. Description 99.1 Notification of CRH public limi