CRH America Finance Offers Bonds With Yields of Up to 6.260% to Fund Arcosa Acquisition Obligations

Key Facts

CRH America Finance offered new notes fully and unconditionally guaranteed by parent company CRH plc, directing net proceeds to purchase Arcosa notes tendered and accepted in its tender offers and repay amounts due under the acquisition-related bridge loan. Expected gross proceeds before underwriting commissions and expenses totaled $4,181,473,500, according to the pricing term sheet filed with the U.S. Securities and Exchange Commission. The offering prospectus said any amounts remaining after these uses would go toward general corporate purposes. The disclosure frames the financing as addressing obligations tied to the Arcosa deal, rather than as a general CRH debt-restructuring program. The notes were expected to settle on November 9, 2026.

Yields to maturity at pricing were 5.459%, 5.649%, 5.864% and 6.260% for the four tranches, respectively, according to the pricing term sheet. These levels show the borrowing cost set for each tranche, with yield and coupon rising for the longest-dated tranche. The disclosure described the notes as direct, unsecured and unsubordinated obligations of the guarantor. CRH plc provided a full and unconditional guarantee of the finance subsidiary’s offerings.

The tender offers target Arcosa’s outstanding $400 million of notes due in 2029 with a 4.375% coupon, as well as $600 million of notes due in 2032 with a 6.875% coupon. CRH required that notes be properly tendered, not withdrawn, and accepted under the terms of the offers. This use allocates part of the offering proceeds to refinancing debt securities issued by Arcosa, while another portion will repay the bridge loan tied to acquisition financing. CRH completed its acquisition of Arcosa on October 23, 2026, and the offering prospectus put its value at about $8.5 billion. The tender offers are scheduled to expire on December 4, 2026, unless extended by the company.

The financing comes as CRH’s net debt stood at $15.0 billion on September 30, 2026, compared with $14.2 billion at the end of 2025 and a similar $15.0 billion on September 30, 2025. In results for the first nine months of 2026, revenue rose 5% to $29.5 billion, adjusted EBITDA increased 4% to $5.9 billion, while net income fell 9% to $2.5 billion. In the third quarter, revenue was $11.4 billion, up 3% year over year, while net income declined to $1.2 billion from $1.5 billion in the same period of 2025. Chief Executive Jim Mintern said resilient performance reflected “disciplined commercial execution, performance improvement initiatives and positive underlying demand” despite a challenging and volatile cost-inflation environment. The company forecast fiscal 2026 net income of between $3.1 billion and $3.3 billion, and adjusted EBITDA of between $7.8 billion and $8.0 billion.

CRH shares closed at $94.81 in the November 6, 2026 session, according to EL7 data. The company announced a share repurchase program of up to $6 billion on October 29, set to run through the end of 2030. For the Arcosa note tender offers, CRH set November 18 as the early tender and withdrawal deadline, with early settlement expected on November 20. The offers remain open until 5 p.m. New York time on December 4, 2026, unless extended, according to the disclosure. Completion of the note purchases remains subject to the offer conditions being met and tendered securities being accepted.