1st Oct 2008 07:00
1 October 2008
Kingspan Group Plc
Kingspan agrees new €330 million syndicated credit facility
Kingspan Group plc, the leading international manufacturer of a range of sustainable products for the construction industry, announces the successful placement yesterday of a syndicated credit facility of €330 million.
The funding, which was oversubscribed, has been put in place to facilitate Kingspan's organic and acquisition growth plans over the next 5 years, and replaces the previous syndicated facility which was due to run until December 2009.
Dermot Mulvihill, Group Finance Director commented: "The syndicated credit facility provides a platform to continue our stated strategy of expansion by organic growth, strategic investment and acquisitions. Kingspan is pleased that in the current banking environment its banks, including a number of new lenders, have expressed confidence in Kingspan's business model."
IIB Bank plc/KBC Bank NV were the sole Bookrunner. Mandated Lead Arrangers are IIB Bank plc / KBC Bank NV, Ulster Bank Ireland Limited and Bank of Ireland. Other Arrangers are Allied Irish Banks plc., HSBC Bank plc. and BNP Paribas.
For further information please contact:
|
Murray Consultants Ed Micheau |
+353 (0)1 4980300 |
|
Buchanan Communications Tim Thompson/Jeremy Garcia |
+44 (0)20 7466 5000 |
|
Kingspan Group Plc. Lorcan Dowd, Company Secretary |
+ 353 (0)42 9698000 |
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KGP.L