TIDMIMI
RNS Number : 4269W
IMI PLC
28 July 2009
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28 July 2009
IMI plc
IMI plc announces $175m US loan note Issue
IMI announces that it has raised $175 million (GBP 107m) in the US private
placement market. The fundraising attracted interest both from existing note
holders and from new investors, and was 2.5 times over subscribed. The notes
issued consisted of two tranches with $75m being taken with a 7 year maturity
and $100m at a 10 year maturity.
The funds will be used to refinance $65m of US notes maturing later this year
with the balance being used to reduce existing bank debt - freeing up additional
banking facilities to maintain our considerable funding headroom.
RBS and HSBC acted as joint placement agents on this deal.
- Ends -
Enquiries:
+-------------------------------------+-------------------------------------+
| Weber Shandwick Financial | |
+-------------------------------------+-------------------------------------+
| Nick Oborne / Stephanie Badjonat | Tel: 020 7067 0700 |
+-------------------------------------+-------------------------------------+
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