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CRH PLC — Capital/Financing Update 2010
Dec 1, 2010
1980_rns_2010-12-01_e7614967-ec8d-4746-87c3-0d40f5baf039.zip
Capital/Financing Update
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Filed pursuant to Rule 433
Dated December 1, 2010
Registration Statement No. 333-166313
333-166313-01
FINAL TERM SHEET
CRH America, Inc.
$350,000,000 4.125% Guaranteed Notes due 2016
$400,000,000 5.750% Guaranteed Notes due 2021
Fully and unconditionally guaranteed by
CRH plc
| $350,000,000 4.125% Guaranteed Notes due 2016: | |
|---|---|
| Issuer: | CRH America, Inc. |
| Guarantor: | CRH plc |
| Format: | SEC Registered Global |
| Principal Amount: | $350,000,000 |
| Maturity Date: | January 15, 2016 |
| Coupon: | 4.125 % |
| Interest Payment Dates: | Semi-annually on January 15 and July 15, commencing July 15, 2011 |
| Price to Public: | 99.799 % |
| Benchmark Treasury: | 1.375% due November 15, 2015 |
| Benchmark Treasury Price/Yield: | 99-17 3 / 4 / 1.468 % |
| Spread to Benchmark Treasury: | + 270 bps |
| Re-offer Yield: | 4.168 % |
| Make-Whole Call: | T+45 bps |
| Change of Control: | 101% |
| Coupon Step Up: | 25bps per rating notch per agency under investment grade (200bps max) |
| Underwriting Discount | 0.35% |
| Proceeds to Issuer Before Expenses (% /$) | 99.449 % / $348,071,500 |
| CUSIP: | 12626P AK9 |
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| ISIN: | US12626PAK93 |
|---|---|
| Trade Date: | November 30, 2010 |
| Expected Settlement Date: | December 7, 2010 (T+5) |
| Anticipated Listing: | New York Stock Exchange |
| Anticipated Ratings: | Baa1 by Moodys Investors Service, Inc. BBB+ by Standard & Poors Ratings Services |
| Joint Book-Running Managers: | Barclays Capital Inc. |
| J.P. Morgan Securities LLC | |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | |
| RBS Securities Inc. | |
| UBS Securities LLC | |
| Co-Managers: | Allied Irish Banks, p.l.c. |
| BNP Paribas Securities Corp | |
| ING Financial Markets LLC | |
| J&E Davy | |
| Lloyds TSB Bank plc | |
| SG Americas Securities, LLC |
Note: A securities rating is not a recommendation to buy, sell or hold securities. Ratings may be subject to revision or withdrawal at any time, and each rating should be evaluated independently of any other rating.
CRH (CRH plc and CRH America, Inc.) has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents CRH has filed with the SEC for more complete information about CRH and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, CRH, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling J.P. Morgan Securities LLC at (212) 834-3118 (collect) or Barclays Capital Inc. at (888) 603-5847 (toll-free) or Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at (800) 294-1322.
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$400,000,000 5.750% Guaranteed Notes due 2021:
| Issuer: | CRH America, Inc. |
|---|---|
| Guarantor: | CRH plc |
| Format: | SEC Registered Global |
| Principal Amount: | $400,000,000 |
| Maturity Date: | January 15, 2021 |
| Coupon: | 5.750 % |
| Interest Payment Dates: | Semi-annually on January 15 and July 15, commencing July 15, 2011 |
| Price to Public: | 99.944 % |
| Benchmark Treasury: | 2.625% due November 15, 2020 |
| Benchmark Treasury Price/ Yield: | 98-14 / 2.806 % |
| Spread to Benchmark Treasury: | + 295 bps |
| Re-offer Yield: | 5.756 % |
| Make-Whole Call: | T+ 45 bps |
| Change of Control: | 101% |
| Coupon Step Up: | 25bps per rating notch per agency under investment grade (200bps max) |
| Underwriting Discount | 0.45% |
| Proceeds to Issuer Before Expenses (% / $) | 99.494 % / $397,976,000 |
| CUSIP: | 12626P AL7 |
| ISIN: | US12626PAL76 |
| Trade Date: | November 30, 2010 |
| Expected Settlement Date: | December 7, 2010 (T+5) |
| Anticipated Listing: | New York Stock Exchange |
| Anticipated Ratings: | Baa1 by Moodys Investors Service, Inc. BBB+ by Standard & Poors Ratings Services |
| Joint Book-Running Managers: | Barclays Capital Inc. |
| J.P. Morgan Securities LLC | |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | |
| RBS Securities Inc. | |
| UBS Securities LLC | |
| Co-Managers: | Allied Irish Banks, p.l.c. |
| BNP Paribas Securities Corp | |
| ING Financial Markets LLC | |
| J&E Davy | |
| Lloyds TSB Bank plc | |
| SG Americas Securities, LLC |
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Note: A securities rating is not a recommendation to buy, sell or hold securities. Ratings may be subject to revision or withdrawal at any time, and each rating should be evaluated independently of any other rating.
CRH (CRH plc and CRH America, Inc.) has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents CRH has filed with the SEC for more complete information about CRH and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, CRH, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling J.P. Morgan Securities LLC at (212) 834-3118 (collect) or Barclays Capital Inc. at (888) 603-5847 (toll-free) or Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at (800) 294-1322.
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