31st Mar 2005 07:00
Kingspan Group PLC31 March 2005 31 March 2005 KINGSPAN GROUP PLC PRIVATE PLACEMENT RAISES US$200 MILLION Kingspan Group plc, a major manufacturer of an integrated range of products forthe construction industry, is pleased to announce that it has successfullynegotiated raising US$200 million through a private placement of 10 and 12 yearSenior Notes with a group of US investors. The interest rates achieved by thisdebut issuance were the tightest to date by an Irish corporate, and theplacement was significantly over subscribed. The proceeds of the issue have been converted into Euros and will be used torepay existing bank borrowings and for general corporate purposes. The placement has been facilitated and arranged through Bank of IrelandCorporate Banking with Macquarie Securities (USA) Inc acting as Placement Agent.Bank of Ireland Global Markets controlled and ran the swap auction. Mr. Dermot Mulvihill, Kingspan's Group Finance Director, said: "The very positive response to the placement reflects the credit quality ofKingspan. The issue has introduced a new investor group and improved our capitalstructure by lengthening our debt maturity profile, all at very competitiveinterest rates." For further information please contact: Murray Consultants Tel: +353 1498 0300 Donnchadh O'Neil Buchanan Communications Tel: +44 (0) 20 7466 5000 Jeremy Garcia/Tom Carroll This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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