CRH plc Announces USD Bond Redemption

RNS Number : 6289I

CRH PLC

27 March 2018

 

27 March 2018

CRH plc ("CRH") Announces Redemption of Bonds Issued by CRH America, Inc.

CRH today is announcing that its wholly owned subsidiary, CRH America, Inc. ("CRH America"), will exercise its option to redeem in full the entire outstanding principal amount of its 8.125% Guaranteed Notes due 2018 (CUSIP: 12626P AJ2;  ISIN: US12626PAJ21), of which $287,870,000 aggregate principal amount is outstanding (the "Notes"), on April 27, 2018 (the "Redemption Date").

The Notes will be redeemed in full on the Redemption Date at a make-whole redemption price in an amount equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum of the present values of the Remaining Scheduled Payments discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 50 basis points, together with, in each case, accrued and unpaid interest on the principal amount of the 2018 Notes to be redeemed to the Redemption Date. The Treasury Rate will be calculated on the third Business Day preceding the Redemption Date. Such redemption is pursuant to the terms of the Notes and the Indenture, dated as of March 20, 2002 (the "Indenture"), among CRH America, CRH plc, as Guarantor (the "Guarantor"), and The Bank of New York Mellon, as successor trustee to JP Morgan Chase Bank (the "Trustee"). Capitalized terms have the meanings assigned to such terms in the terms of the Notes and the Indenture.

The Notes shall become due and payable on the Redemption Date at the Redemption Price, which shall be paid together with accrued and unpaid interest, if any, to the Redemption Date, upon surrender of the redeemed 2018 Notes to the Trustee, as Paying Agent by hand or by mail as follows:

Registered & Certified Mail:	Regular Mail or Courier:	In Person by Hand Only:
The Bank of New York Mellon 111 Sanders Creek Parkway East Syracuse, NY 13057 USA	The Bank of New York Mellon 111 Sanders Creek Parkway East Syracuse, NY 13057 USA	The Bank of New York Mellon 111 Sanders Creek Parkway East Syracuse, NY 13057 USA

The Trustee is transmitting to registered holders of the Notes the notice of redemption containing the information required by the terms of the Notes and the Indenture.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

For more information contact: CRH plc Investor Relations Frank Heisterkamp Head of Investor Relations [e-mail] [phone]

 

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