Last checked at 21 Nov 2014 07:00
21 November 2014
Issuance of debt
Tyman plc ("Tyman" or "the Group")
Tyman, a leading international supplier of components to the door and window industry, announces that it has successfully completed the issuance of a debut private debt placement with US financial institutions totalling US$100 million.
The debt placement comprises US$55 million debt with a 7 year maturity at a coupon of 4.97 per cent. and US$45 million with a 10 year maturity at a coupon of 5.37 per cent. Proceeds from the debt placement will be used for general corporate purposes.
The debt placement successfully accomplishes the Group's objectives of diversifying its sources of debt finance along with extending the tenor of its overall facilities.
Separately the Group intends to repay and cancel, prior to the 2014 year end, the 2013 US$100 million acquisition facility put in place in order to acquire Truth.
Following the repayment of the Truth acquisition facility, Tyman will have committed facilities available of approximately £243 million, together with an uncommitted accordion facility of up to £60 million, with maturities across all facilities ranging from May 2019 to November 2024.
Enquiries:
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Tyman plc James Brotherton Kevin O'Connell | 020 7976 8000 |
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MHP Communications Reg Hoare Jamie Ricketts Jennifer Iveson | 020 3128 8100 |
Notes to editors:
Tyman plc is a leading international supplier of components to the door and window industry. The Group's three divisions - AmesburyTruth, Grouphomesafe and Schlegel International - are market leaders in their respective geographies.
The Group employs over 2,900 people and operates facilities in 13 countries worldwide. Tyman is listed on the London Stock Exchange under the ticker TYMN.
Further information on the Group and the Group's products is available at www.tymanplc.com.
Disclaimer
The private placement Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Act. This notice is for information only, does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.