Coats Group raises $250m in US private placement

20th Feb 2023 10:09

(Sharecast News) - Industrial thread maker Coats Group said on Monday that it has raised $250m through the issue of US private placement notes.

The company said the notes were "competitively priced" and that the issuance, on investment grade terms and heavily oversubscribed, refinances the $240m facility which funded the acquisition of Texon in June 2022.

The new notes mature in 2028 and 2030, beyond the existing USPP tranches.