13. Long-term financial liabilities

On March 23, 2016, Lafarge S.A. redeemed CHF 364 million relating to a EUR 332 million bond with a coupon of 4.25 percent which was issued on November 23, 2005.

On May 11, 2016, Holcim Finance (Luxembourg) S.A. issued Schuldschein loans for a total amount of CHF 911 million (EUR 831.5 million), guaranteed by LafargeHolcim Ltd and with the following characteristics:

in EUR million

 

5 years

7 years

10 years

Fixed-rate tranche

Amount

413

152

32.5

Fixed-rate tranche

Interest rate

1.04%

1.46%

2.00%

Floating-rate tranche

Amount

209

25

Floating-rate tranche

Interest rate

6m-euribor
+1.0%

6m-euribor
+1.2%

On May 11, 2016, LafargeHolcim International Finance Ltd issued Schuldschein loans for a total amount of CHF 193 million (USD 201 million), guaranteed by LafargeHolcim Ltd and with the following characteristics:

in USD million

 

5 years

7 years

Fixed-rate tranche

Amount

40

15

Fixed-rate tranche

Interest rate

2.80%

3.20%

Floating-rate tranche

Amount

121

25

Floating-rate tranche

Interest rate

3m-libor
+1.6%

3m-libor
+1.8%

On May 31, 2016, LafargeHolcim completed a liability management transaction resulting in:

  • the issuance by Holcim Finance (Luxembourg) S.A. of bonds for a total amount of CHF 2,536 million, consisting of a EUR 1,150 million bond with a coupon of 1.375 percent and a tenor of 7 years, and a EUR 850 million bond with a coupon of 2.25 percent and a tenor of 12 years which was tapped by EUR 300 million on June 22, 2016. Both bonds are guaranteed by LafargeHolcim Ltd.
  • the repurchase of several outstanding bonds of Lafarge S.A. for an aggregated nominal amount of CHF 1,210 million and a settlement amount of CHF 1,412 million, the difference being mainly explained by the bond measurement at fair value. The repurchased amount of each bond is shown in the table below:

Bonds with original coupon
Million CHF

Repurchased nominal amount as at 31.05.2016

Remaining nominal amount as at 30.09.2016

5.38% EUR 324 million bonds due in 2017

39

313

5.00% EUR 328 million bonds due in 2018

89

268

5.38% EUR 532 million bonds due in 2018

113

466

5.88% EUR 256 million bonds due in 2019

64

215

5.50% EUR 560 million bonds due in 2019

224

387

4.75% EUR 500 million bonds due in 2020

142

402

4.75% EUR 750 million bonds due in 2020

492

330

10.00% GBP 96 million bonds due in 2017

23

100

6.63% GBP 73 million bonds due in 2017

24

71

TOTAL

1,210

2,552

On May 31, 2016, Aggregate Industries Holdings Limited redeemed CHF 229 million relating to a GBP 163 million bond with a coupon of 7.25 percent which was issued on May 31, 2001.

On June 7, 2016, LafargeHolcim Ltd redeemed a CHF 475 million bond with a coupon of 2.38 percent which was issued on June 7, 2010.

On June 9, 2016, Lafarge Africa PLC issued a dual-tranche NGN bond for a total amount of CHF 299 million, consisting of a NGN 26.4 billion bond with a coupon of 14.25 percent and a tenor of 3 years, and a NGN 33.6 billion bond with a coupon of 14.75 percent and a tenor of 5 years.

On July 15, 2016, Lafarge S.A. redeemed CHF 784 million relating to a USD 800 million bond with a coupon of 6.50 percent which was issued on July 18, 2006.

On September 15, 2016, LafargeHolcim Finance US LLC issued a dual-tranche USD bond for a total amount of CHF 960 million consisting of a USD 400 million bond with a coupon of 3.50 percent and a tenor of 10 years, and a USD 600 million bond with a coupon of 4.75 percent and a tenor of 30 years. Both bonds are guaranteed by LafargeHolcim Ltd.