Business
Completion of US Private Placement
Completion of US Private Placement.
About this update from Vesuvius Plc
[{"type":"text","content":"\n \nRNS Number : 2922Z Vesuvius plc 14 December 2017 \n\n \n \n14 December 2017\n \nVesuvius plc (\"Vesuvius\" or \"the Group\")\nCompletion of US Private Placement\n \nVesuvius plc, a global leader in molten metal flow engineering, announces that it has raised €100 million with the completion of a US Private Placement.\nThe new US Private Placement notes (the \"Notes\"), which carry a fixed rate of interest, were issued in two series: €50 million at 1.90% maturing in December 2027; and €50 million at 2.12% maturing in December 2029.\nThe Notes will be used for repayment of existing indebtedness, primarily the US$110m, 4.26% coupon, US Private Placement maturing on 16 December 2017.\nVesuvius' annual interest costs will decline by approximately £1.8m as a result of this refinancing and the weighted average maturity of its committed debt facilities now stands at approximately six years, versus approximately four years at year-end 2016.\n \nFor further information please contact:\n \nShareholder/analyst enquiries:\nVesuvius plc Guy Young, Chief Financial Officer +44 (0) 207 822 0000\nEuan Drysdale, Group Head of Corporate Finance +44 (0) 207 822 0027 \nVirginia Skroski, Investor Relations Manager +44 (0) 207 822 0016\n \nMedia enquiries:\nMHP Communications Andrew Jaques/James White/Ollie Hoare +44 (0) 203 128 8100\n \n \nAbout Vesuvius plc\n \nVesuvius is a global leader in molten metal flow engineering principally serving th...