Business
Statement re C&C strengthens capital struct...
Statement re C&C strengthens capital struct....
About this update from C&c Group Plc
[{"type":"text","content":"\n \nStatement re C&C strengthens capital structure with c. €140m US Private Placement\n\nC&C Group PLC\n\n \n \n \n C&C strengthens capital structure with c. €140m US Private Placement\n \n \nC&C Group plc (‘C&C’ or the 'Group’), a leading, vertically integrated premium drinks company which manufactures, markets and distributes branded beer, cider, wine, spirits and soft drinks across the UK and Ireland, today announces the successful issue of the equivalent of approximately €140m in Euro and Sterling of new US Private Placement (“USPP”) notes.\n\n \nThe unsecured notes, which represent C&C’s debut issue in the USPP market, have maturities of 10 and 12 years. The issue has achieved C&C’s aims of diversifying the sources of debt financing and extending their maturity out to 2032 on attractive terms. Covenants are aligned to those of the Group’s existing debt facility.\n\n \n Jonathan Solesbury, Group Chief Financial Officer commented:\n \n \n “We are very pleased to have successfully completed our first US Private Placement, particularly against the backdrop of the current market uncertainty. The issue extends the maturity of our debt as well as diversifying our capital structure. It gives the Company access to a broader range of funding options in the future.”\n \n \nLloyds Securities Inc. and NatWest Markets plc acted as joint placement agents on the Placement, Rothschild & Co acted as financial advisor to C&C.\n\n \n ENDS\n \n \n Contacts\n \n \n C&C Group plc\n \n \nStewart Gilliland, interim Executive Chairman\n\n \nJonathan Solesbury, Chief Financial Officer\n\n \nPatrick McMahon, Group Strategy Director\n\n \nEmail: [email protected]\n \n FTI Consulting \n \n \nJonathan Neilan/Paddy Berkery\n\n \nTel: +353 1 765 0886/0884\n\n \nEmail: [email protected]\n \n Novella Communications\n \n \nTim Robertson\n\n \nTel: +44 203 151 7008\n\n \nEmail: [email protected]\n \n About C&C Group plc\n \n \nC&C Group plc is a leading, vertically integrated premium drinks company which manufactures, markets and distributes branded beer, cider, wine, spirits, and soft drinks across the UK and Ireland.\n\n \n \nC&C Group's portfolio of owned/exclusive brands include: Bulmers, the leading Irish cider brand; Tennent's, the leading Scottish beer brand; Magners ...