8-K

CRH PUBLIC LTD CO 8-K Report (Dec 23, 2011)

Filed December 23, 2011For Securities:CRH

Summary

CRH Public Limited Company (CRH) has filed a Form 6-K on December 23, 2011, to announce a significant event related to its debt issuance. Specifically, CRH Finance B.V., the original issuer of €750,000,000 7.375% Guaranteed Notes due 2014, has been substituted by a new entity, CRH Finance Limited. This substitution, effective December 22, 2011, is facilitated by a First Supplemental Trust Deed and has been approved by the Trustee. This change primarily impacts the issuer of the notes, with CRH plc (the Guarantor) continuing its unconditional and irrevocable guarantee. The new issuer, CRH Finance Limited, is an indirect wholly-owned Irish subsidiary of CRH plc, established as a finance company to manage inter-group borrowing and lending. Investors holding these notes should be aware of the change in the principal debtor entity, though the ultimate guarantee remains with the parent company, CRH plc.

Key Highlights

  • 1CRH Finance B.V. has been substituted as the principal debtor for the €750,000,000 7.375% Guaranteed Notes due 2014.
  • 2CRH Finance Limited, an Irish incorporated subsidiary of CRH plc, is the new issuer of these notes.
  • 3The substitution is effective from December 22, 2011, and is backed by a First Supplemental Trust Deed.
  • 4CRH plc (the Guarantor) continues its unconditional and irrevocable guarantee of the notes.
  • 5The new issuer, CRH Finance Limited, is a finance company designed to manage intra-group financing for the CRH group.
  • 6Audited financial statements of the new issuer are not available, but those of the guarantor, CRH plc, for the year ended December 31, 2010, are available.

Frequently Asked Questions

This filing (Form 6-K) serves as a notice to investors regarding the substitution of CRH Finance B.V. with CRH Finance Limited as the principal debtor for the €750,000,000 7.375% Guaranteed Notes due 2014. CRH plc remains the guarantor of these notes.

No, the substitution does not affect the guarantee. CRH plc continues to provide an unconditional and irrevocable guarantee for the 2014 Notes, ensuring the credit backing remains in place.

CRH Finance Limited is an indirect, wholly-owned Irish subsidiary of CRH plc. It has been established as a finance company to handle borrowing and lending activities within the CRH group of companies.

The filing states that the audited financial statements for the new issuer (CRH Finance Limited) for the financial year ended December 31, 2010, are not available for inspection by noteholders. However, the audited consolidated financial statements of the guarantor, CRH plc, for the same period are available.