1 Jun 2021 07:00
Kingspan Group plc
Completion of €700m Revolving Credit Facility
1 June 2021
Kingspan Group plc, the global leader in high performance insulation and building envelope solutions, is pleased to announce that it has completed a new €700m Planet Passionate Revolving Credit Facility. This new five year facility matures in May 2026, with an extension option for a further two years. It replaces the Group's outgoing RCF (€451m) and acquisition (€300m) facilities.
The Planet Passionate facility is provided by a syndicate of ten leading international banks and will be used for general corporate purposes. The facility has an inbuilt pricing incentive on the achievement of Kingspan's Planet Passionate commitments and is therefore fully aligned with the wider strategy of the Group.
Geoff Doherty, Kingspan Chief Financial Officer, commented:
"We are very pleased to complete this financing with a top tier of international banks, who can support Kingspan in all of our key markets, regionally and globally. When combined with the Green Private Placement bond of €750m completed in December 2020, Kingspan has arranged €1.45 billion of sustainable debt funding over the last six months."
Lorcan Dowd
Group Company Secretary