Last checked at 14 Aug 2018 07:00
14 August 2018
Grafton Group plc
US Private Placement
Grafton Group plc ("the Group"), the Merchanting and DIY Group with operations in the UK, Ireland and Mainland Europe, is pleased to announce that it has agreed to raise €160 million (£144 million) through an issue of unsecured senior notes in the US Private Placement market with ten and twelve year maturities at an average annual coupon of 2.5 per cent. The notes will be issued in September 2018 and the proceeds received will be used to refinance existing debt and for general corporate purposes. The issue of these notes will diversify the Group's sources of funding by re-entering the US Private Placement market, extend the maturity profile of debt and provide greater certainty over the cost of debt for an extended period at attractive rates.
Ends
For further information please contact:
David Arnold Chief Financial Officer
Grafton Group plc +353 1 216 0600