Contact Details:
Mersen South Africa Pty Ltd
Cnr Wright & Commando Road
Industrial West
Johannesburg
Gauteng
South Africa
Tel: +27 (0)11 474 0000
Alt. Tel: +27 (0)11 474 0002/3/4/5
Fax: +27 (0)11 474 8835
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Successful USD100 million private placemen
Company News Thursday, March 1, 2012: Mersen South Africa Pty Ltd
As part of the Group’s active financing policy, Mersen has announced the issuance of a USD100 million private placement, including a 10 years USD50 million tranche and a 8 years EUR37.2 million tranche, both repayable at maturity. This financing from a prime US institutional investor carries a fixed average interest rate of 4.7%.
This private placement follows on the one-year extension to the maturity of the syndicated loan in China (now extended to September 2014), negotiated in September. This financing will enable the Group to:
- extend to 4.7 years the average maturity of the utilized borrowings
- diversify its sources of financing on competitive terms, and
- secure its long-term financing requirements in US dollars.
This transaction reflects our financial partners’ confidence in Mersen’s financial strength and in its expansion strategy. It will enable the Group to bolster its financial flexibility and to its future expansion.
