Kingspan : to Obtain EUR750 Million via Green Private Placement

By Adria Calatayud

Kingspan Group PLC said Tuesday that it has agreed to terms on a 750 million-euro ($889.7 million) green private placement, which the company said gives it capital to develop in the years ahead.

The Ireland-based building and insulation materials company said the new loan notes were priced on Sept. 10 and will close on Sept. 25. A total of EUR580 million of the notes are euro denominated, with a further equivalent of EUR170 million in U.S. dollars, Kingspan said.

The notes have a weighted average fixed interest rate of 1.78% a year, with weighted average maturities of 9.7 years, the company said.

The company said this green private placement leaves it with cash and committed undrawn facilities of more than EUR2 billion.

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