Meggitt Concludes $600M Debt Private Placement

16th Jun 2010 07:09

LONDON (Dow Jones)--Meggitt PLC (MGGT.LN), an international aerospace group, said Wednesday that it has completed a private placement of $600 million in senior notes with international institutional investors. MAIN FACTS: -The notes are in four series with maturities of seven, ten and twelve years and coupons of between 4.62% and 5.17%. -$250 million has been drawn down in June 2010 with the balance of $350 million to be drawn in October, coinciding with the maturity of some existing fixed rate swaps. -The funds raised will replace some of Meggitt's existing bank facilities which were due to expire between 2012 and 2013, thereby significantly lengthening the debt maturity profile of the Group. Shares closed Tuesday at 318.40 pence. -By Razak Musah Baba, Dow Jones Newswires; +44-20-7842-9275; [email protected] (END) Dow Jones Newswires June 16, 2010 02:09 ET (06:09 GMT)