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Commentary & Deal Flow

by Oleksandr Vynychuk

Sep 17, 2026 5:12 AM ET

PRICED: Heidelberg Materials €500m 2yr Sr Unsec FRN; 3mE+45bp

IGC European Market: Deal Flow - General

Issuer	Term	Coupon	Maturity	Size	Ranking	Type	Price	Yield	Spread	IPT-PXD
Heidelberg Materials	2yr	3mE+45	25-Sep-28	€500m	Sr Unsec	Floating	100	-	3mE+45	0

Reoffer: 2yr: 3mE+45bp / 100

Spread set at: 2yr: 3mE+45bp

Issuer: Heidelberg Materials AG (HEIGR)
Size: €500m
Maturity: 25-Sep-28
Reoffer Price: 100
Coupon: 3mE+45 (0% floor, quarterly, act/360)
Exp. Ratings: BBB (S&P)
Format: Reg S, bearer, senior unsecured
CoC: 101
UOP: GCP
Settlement: 25-Sep-26 (T+6)
Denoms: 100k
ISIN: XS3516372854
Bookrunners: BNPP, DB
FIGI: BBG025751KJ1
Industry: Building Materials (BCLASS)
Day Cnt: Act/360
Iss Price: 100
Pricing Date: 17-Sep-26
Interest Accrual Date: 25-Sep-26
1st Settle Date: 25-Sep-26
1st Coupon Date: 25-Dec-26
Exchange: Luxembourg

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