Business
US private placement and new bank facility
US private placement and new bank facility.
About this update from Coats Group Plc
[{"type":"text","content":"\n \nRNS Number : 7444Y Coats Group PLC 08 December 2017 \n\n8 December 2017 \n \nCoats Group plc\n \n$225m US private placement and new bank facility\n \nCoats Group plc ('Coats' or the 'Company'), the world's leading industrial thread manufacturer, today announces the successful completion of a $225m issue of US Private Placement (USPP) notes.\n \nThe notes, which represent Coats' debut issue in the USPP market, have a maturity of seven and ten years and have been issued on investment grade terms. Simultaneously, Coats has agreed a new $350m five-year bank facility with a syndicate mainly comprising its existing lenders. The USPP notes and new bank facility replace Coats' $680m bank facility that was due to mature in March 2020. The refinancing has achieved the Group's aims of diversifying the sources of debt financing and extending their maturity out to 2027. \n \n \n \n \n \nEnquiry details\nUK media Richard Mountain / Nick Hasell +44 (0) 20 3727 13...