1st Jun 2016 06:21
LONDON (Alliance News) - Aerospace and defence contractor Meggitt PLC on Wednesday said it has completed a USD600.0 million private placement to raise funds to refinance credit facilities it secured in 2015.
Meggitt said it has placed the notes with 23 US-based investors in seven and ten-year maturities. The transactions has a weighted average maturity of 8.5 years, Meggitt said, and an all-in funding cost of 3.46%.
"We are pleased that this attractively priced issue enables us to capitalise on current low interest rates and Meggitt's strong market rating to secure longer term funding at a low cost, whilst at the same time further diversifying our debt investor base," said Meggitt Chief Financial Officer Doug Webb.
By Sam Unsted; [email protected]; @SamUAtAlliance
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