LafargeHolcim offer to pay down €1.75bn debt

LafargeHolcim announced that they have offered to pay down EUR1.75bn worth bonds (average cost of 5.8 per cent) with an expiration date of 15 September.

JP Morgan believe this should lower the annual interest cost by CHF423m and help the group in attaining a lower cost of debt. It further believes the company has the ability to further lower gross debt following the disposal of assets to CRH for EUR6.5bn.