27th Jun 2005 07:00
Grafton Group PLC27 June 2005 Grafton Group plc $325 Million Private Placement Grafton Group plc announces completion of a $325 million Private Placement of 7year and 10 year Senior Notes with a group of US investors. The proceeds have been converted into sterling and will be used principally torefinance Group borrowings and for general corporate purposes. The placement was arranged by Bank of Ireland's Corporate Banking and GlobalMarkets divisions in association with Macquarie Securities (USA) Inc. Commenting on the Private Placement Mr. Colm o Nuallain, Grafton FinanceDirector, said: "We took advantage of a new source of capital from the buoyant US PrivatePlacement market and received a very positive response from investors while atthe same time improving the strength of the Group's Balance Sheet, lengtheningthe age profile of the underlying debt and reducing the average cost of borrowedfunds." ENDS 27 June 2005 Colm o NuallainFinance DirectorGrafton Group plcTelephone (+353) (01) 216 0600 Joe MurrayMurray ConsultantsTelephone (+353) (01) 498 0300 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Grafton Group