US loan note issue

RNS Number : 4269W

IMI PLC

28 July 2009

 



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:    [phone]

 

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