What is the ultimate parent company of the Holcim Group?
Holcim Ltd is the ultimate parent company of the Holcim Group. Holcim Ltd is domiciled in Switzerland and is a limited liability company incorporated in Switzerland under Swiss law. Holcim Ltd’s shares are listed on the SIX Swiss Exchange.
What are the most important debt issuing entities within the Holcim Group?
The Holcim Group has a number of debt issuing entities of which the main entities are:
- Holcim Ltd
- Holcim Capital Corporation Ltd.
- Holcim European Finance Ltd.
- Holcim GB Finance Ltd.
- Holcim Overseas Finance Ltd.
- Holcim Finance (Luxembourg) S.A.
- Holcim US Finance S.à r.l. & Cie S.C.S.
- Holcim Finance (Australia) Pty Ltd
- Holcim Finance (Canada) Inc.
- Holcim Capital México, S.A. de C.V.
The purpose of these entities is to act as finance companies on behalf of the Holcim Group. The principal finance and holding companies are also listed in the Holcim Group’s Annual Report.
Where are the Holcim Group’s debt instruments listed?
Many of the Holcim Group’s debt instruments are listed on the Swiss (SIX) and Luxembourg (LuxSE) stock exchanges. In addition, some debt instruments are listed on the London (LSE), Mexican (BMV) or Thai (TBMA) stock exchanges. Some debt instruments are not listed on any stock exchange and traded over-the-counter.
What are the Holcim Group’s frequent debt issuing programs?
The Holcim Group maintains an EMTN program of up to EUR 8.0 bn, an Australian program of up to AUD 1.5 bn and a Mexican program of up to MXN 10.0 bn. Further, the Holcim Group has a USD commercial paper program of up to USD 1.0 bn and a EUR commercial paper program of up to EUR 0.5 bn.
What is the Holcim Group’s target in respect to average maturity of financial liabilities?
The Holcim Group has a target to maintain an average maturity of its financial liabilities of at least 4.0 years.
What is the Holcim Group’s target in respect to debt capital market versus bank market financing?
The Holcim Group has a target to have more than 70% of its debt financed through debt capital market instruments.
What is the Holcim Group’s target in respect to structural subordination?
The Holcim Group has a structural subordination target of more than 70%.
What is the Holcim Group’s rating target?
The Holcim Group commits to a solid investment grade rating.
What is the nature and scope of the guarantee if Holcim Ltd guarantees debt instruments?
Holcim Ltd guarantees the due and punctual payment of principal, interest and all other charges of guaranteed notes of up to 110% of the aggregate principal amount of the guaranteed notes outstanding from time to time as and when the same shall become due according to the terms and conditions of the notes. The guarantees are governed by Swiss substantive law.
Do the Holcim Group’s debt instruments have step down / up rating change and / or change of control covenants?
Yes, some of the Holcim Group’s debt instruments have step down / up rating change and / or change of control covenants. Please refer to the term and conditions of the respective debt instrument for more information in this respect.