US Private Placement

RNS Number : 6721X

Grafton Group PLC

14 August 2018

 

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.

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For further information please contact:

David Arnold                       Chief Financial Officer

Grafton Group plc              [phone]

 

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