CRH Announces Underwritten Placing Of 74.04 Mln Ordinary Shares - Quick Facts

(RTTNews) - Irish building materials company CRH Plc. (CRH, CRH.L) Monday announced an underwritten placing of 74.04 million ordinary shares, representing approximately 9.99 percent of the current issued ordinary share capital of the company. The placing is available to new and existing eligible institutional investors.

The proceeds from the placing will be partly used for the acquisition of certain assets being disposed by European cement giants Lafarge SA (LFGEF.PK, LFRGY.PK) and Holcim (HCMLY.PK) for an enterprise value of 6.5 billion euros.

The balance of the consideration will be funded by way of 2.0 billion euros cash on balance sheet and an unsecured bridge facility provided by Bank of America Merrill Lynch International Limited, J.P. Morgan Limited and UBS Limited.

UBS Limited is acting as Sole Global Coordinator with UBS Limited, J.P. Morgan Securities Plc, Merrill Lynch International and J&E Davy acting as Joint Bookrunners.