20th Feb 2023 08:23
Coats Group PLC - Uxbridge, England-based industrial thread maker - Successfully completes "competitively priced" issue of USD250 million in US private placement notes. Says the issue was on "investment grade terms" and heavily oversubscribed. The issue refinances the USD240 million facility that funded the Texon acquisition last June. The notes mature in 2028 and 2030, which is beyond the existing note tranches.
Coats bought Texon International Group Ltd for USD211 million in net cash, which was based on an enterprise value of USD237 million. Texon provides components for athleisure footwear.
Current stock price: 73.50 pence, up 0.3% on Monday
12-month change: up 18%
By Elizabeth Winter, Alliance News senior markets reporter
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