C&C Group Raises EUR140 Million In Private Note Placing

(Alliance News) - Brewer C&C Group PLC said Friday it has raised EUR140 million in a private note ...

Alliance News 27 March, 2020 | 2:22PM
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(Alliance News) - Brewer C&C Group PLC said Friday it has raised EUR140 million in a private note placement in the US.

The unsecured notes have maturities of 10 and 12 years.

"The issue has achieved C&C's aims of diversifying the sources of debt financing and extending their maturity out to 2032 on attractive terms. Covenants are aligned to those of the group's existing debt facility," the Dublin-based brewer said.

Chief Financial Officer Jonathan Solesbury added: "We are very pleased to have successfully completed our first US private placement, particularly against the backdrop of the current market uncertainty. The issue extends the maturity of our debt as well as diversifying our capital structure. It gives the company access to a broader range of funding options in the future."

Shares in C&C Group were 1.1% higher in London on Friday afternoon at 180.20 pence each.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
C&C Group PLC 192.40 GBX -2.93 -

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