RNS Number : 7435B
SIG PLC
21 June 2016
SIG plc
("SIG" or "the Group")
Refinancing of £130m private placement notes
SIG 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.
This 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.
These 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.
Enquiries
Simon Bielecki, Head of Investor Relations
|
SIG plc
|
07515 794359
|
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCURSVRNSANUAR