Grafton Group to raise €160m in US private placing

14th Aug 2018 07:29

(Sharecast News) - Builders merchant Grafton Group on Tuesday said it was raising €160m (£144m) through a private placing in the US. The company said it would issue unsecured senior notes in the US Private Placement market with 10 and 12 year maturities at an average annual coupon of 2.5%.The notes will be issued in September 2018 and the proceeds received will be used to refinance existing debt and for general corporate purposes, Grafton said.