26th Jul 2019 16:13
(Alliance News) - Electrocomponents PLC on Friday announced the placement, in private, of USD200 million of new senior unsecured notes.
The issue will consist of five tranches of notes, with maturities ranging from seven years to 12 years, and the weighted average coupon will be 3.11%.
The notes will be issued, Electrocomponents continued, between October and March next year.
"The new private placement is being undertaken now to take advantage of attractive market conditions and will be used to repay the existing private placement loan notes and two-year term loan maturing in mid-2020," said the company.
Shares were 0.6% higher on Friday afternoon at 608.80 pence each.
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