CRH America to sell 10-year notes

CRH AMERICA, the US unit of Clondalkin based building materials maker CRH, plans to sell 10-year notes in a benchmark offering as soon as this week, according to a person familiar with the transaction.

The notes are rated Baa1 by Moody’s Investors Service, the third-lowest level of investment grade, and an equivalent BBB+ by Standard & Poor’s, said the person, who declined to be identified because terms aren’t set.

A benchmark sale is typically at least $500 million (€314m). Citigroup and JPMorgan Chase are managing the sale.