CRH Closes $3 Billion Senior Notes Offering

Ticker: CRH · Form: 8-K · Filed: 2024-12-30T00:00:00.000Z

Sentiment: neutral

Topics: debt-offering, financing, notes

TL;DR

CRH just raised $3B via new notes due 2029, 2033, and 2034. Funds for general corp purposes.

AI Summary

On December 30, 2024, CRH Public Ltd Co. announced the closing of its offering of senior notes. The offering included $1.25 billion aggregate principal amount of 5.2% guaranteed notes due 2029, $750 million aggregate principal amount of 6.4% notes due 2033, and $1.0 billion aggregate principal amount of 5.4% guaranteed notes due 2034. The net proceeds from these offerings will be used for general corporate purposes.

Why It Matters

This significant debt issuance by CRH indicates a strategic move to fund operations or expansion, potentially impacting its financial leverage and future investment capacity.

Risk Assessment

Risk Level: medium — Issuing a substantial amount of debt increases financial leverage and interest expense, which could pose risks if market conditions or company performance deteriorate.

Key Numbers

Key Players & Entities

FAQ

What is the total aggregate principal amount of the senior notes offered by CRH?

CRH offered a total aggregate principal amount of $3.0 billion across three series of notes: $1.25 billion of 5.2% guaranteed notes due 2029, $750 million of 6.4% notes due 2033, and $1.0 billion of 5.4% guaranteed notes due 2034.

When did the offering of these senior notes close?

The offering of the senior notes closed on December 30, 2024.

What are the maturity dates for the different series of notes issued?

The notes have maturity dates in 2029 (5.2% guaranteed notes), 2033 (6.4% notes), and 2034 (5.4% guaranteed notes).

What are the stated 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 does CRH intend to use the net proceeds from these offerings for?

The net proceeds from these offerings will be used for general corporate purposes.

From the Filing

0001628280-24-052576.txt : 20241230 0001628280-24-052576.hdr.sgml : 20241230 20241230161357 ACCESSION NUMBER: 0001628280-24-052576 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20241230 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20241230 DATE AS OF CHANGE: 20241230 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: 241589976 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-20241230.htm 8-K crh-20241230 false 0000849395 0000849395 2024-12-30 2024-12-30 0000849395 us-gaap:CommonStockMember 2024-12-30 2024-12-30 0000849395 crh:FivePointTwoPercentGuaranteedNotesDue2029Member 2024-12-30 2024-12-30 0000849395 crh:SixPointFourPercentNotesDue2033Member 2024-12-30 2024-12-30 0000849395 crh:FivePointFourPercentGuaranteedNotesDue2034Member 2024-12-30 2024-12-30 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 30, 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 30, 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 December 30, 2024 104 Cove

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