$250m US private placement

RNS Number : 3627Q

Coats Group PLC

20 February 2023

 

20 February 2023

Coats Group plc

$250m US private placement

Coats Group plc ('Coats' or the 'Company'), the world's leading industrial thread and footwear components manufacturer, today announces the successful completion of a competitively priced $250m issue of US Private Placement ('USPP') notes.

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.

Enquiry details
Investors	Chris Dyett	Coats Group plc	[phone]
Media	Richard Mountain / Nick Hasell	FTI Consulting	[phone]

About Coats Group plc

Coats is a world leader in thread manufacturing and structural components for apparel and footwear, as well as an innovative pioneer in performance materials. These critical solutions are used to create a wide range of products, including ones that provide safety and protection for people, data and the environment. Headquartered in the UK, Coats is a FTSE250 company and a FTSE4Good Index constituent. Revenues in 2021 were $1.5bn.

Trusted by the world's leading companies to deliver crucial, innovative, and sustainable solutions, Coats provides value-adding products including apparel, accessory and footwear threads, structural footwear components, fabrics, yarns and software applications. Customer partners include companies from the apparel, footwear, automotive, telecoms, personal protection, and outdoor goods industries.

With a proud heritage dating back more than 250 years and spirit of evolution to constantly stay ahead of changing market needs, Coats has operations across some 50 countries with a workforce of over 17,000, serving its customers worldwide. 

Coats connects talent, textiles, and technology, to make a better and more sustainable world. Worldwide, there are three dedicated Coats Innovation Hubs, where experts collaborate with partners to create the materials and products of tomorrow. It participates in the UN Global Compact and is committed to Science Based sustainability targets for 2030 and beyond, with a goal of achieving net-zero by 2050. Coats is also committed to achieving its goals in Diversity, Equity & Inclusion, workplace health & safety, employee & community wellbeing, and supplier social performance.

To find out more about Coats visit  www.coats.com .

 

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