Coats Group PLC US private placement and new bank facility (7444Y)
December 08 2017 - 1:00AM
UK Regulatory
TIDMCOA
RNS Number : 7444Y
Coats Group PLC
08 December 2017
8 December 2017
Coats Group plc
$225m US private placement and new bank facility
Coats 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.
The 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.
Enquiry details
UK media Richard Mountain / Nick Hasell +44 (0) 20 3727 1374
Investors Rob Mann +44 (0) 20 8210 5175
This announcement contains inside information for the purposes
of the Market Abuse Regulation.
About Coats Group plc
Coats is the world's leading industrial thread manufacturer and
a major player in the Americas textile crafts market. At home in
some 60 countries, Coats employs over 19,000 people across six
continents. Revenues in 2016 were US$1.5bn. Coats' pioneering
history and innovative culture ensure the company continues leading
the way around the world, providing complementary and value added
products and services to the apparel and footwear industries;
applying innovative techniques to develop high technology
Performance Material threads and yarns in areas such as automotive
composites and fibre optics; and extending the crafts offer into
new markets and online. Headquartered in the UK, Coats is a FTSE250
listed company on the London Stock Exchange. To find out more about
Coats visit www.coats.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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