CRH US Unit To Redeem USD288 Million Worth Of Bonds (ALLISS)

27th Mar 2018 15:09

LONDON (Alliance News) - Building materials company CRH PLC said Tuesday that unit CRH America Inc has decided to redeem in full the entire outstanding principal amount of its 8.125% guaranteed notes due 2018, of which USD287.9 million aggregate principal amount is outstanding.

"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 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 company said.

The US unit will redeem the notes on April 27.

CRH shares were trading 1.9% higher at 2,384.00 pence, up 2.0%.

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