Business
Refinancing of £130m private placement notes
Refinancing of £130m private placement notes.
About this update from Sig Plc
[{"type":"text","content":"\n \nRNS Number : 7435B SIG PLC 21 June 2016 \n\n \n \nSIG plc\n(\"SIG\" or \"the Group\")\n \nRefinancing of £130m private placement notes\n \nSIG plc, a leading distributor of specialist building products in Europe, today announces it has successfully refinanced £130m of private placement notes, which are due to mature in November 2016, on attractive terms with existing investors.\n \nThis refinancing has been achieved through the issuance of £83m new private placement notes on a bilateral basis, with a ten year maturity, and by increasing the Group's existing revolving credit facility by £100m to £350m, with a five year maturity. As a result the Group's total debt facilities have increased by £53m to £531m at current exchange rates, with unchanged covenants.\n \nThese facilities ensure SIG has enhanced funding headroom and liquidity to support its medium-term strategic plans. The Group continues to aim to target leverage at c.1.5x in the medium-term through a slower pace of acquisitions and by moderating capital expenditure.\n \n \nEnquiries\n \n\n\n\n\nSimon Bielecki, Head of Investor Relations\n \n\n\nSIG plc\n\n\n07515 794359\n\n\n\n\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCURSVRNSANUAR\n ","length":2379,"tagName":"div"}]