Coats Group PLC (LSE:COA), the industrial thread and footwear components maker, said it has raised US$250mln through an issue of US Private Placement (USPP) notes.
The “competitively priced” notes were issued on investment grade terms and were heavily oversubscribed, the FTSE 250-listed company said in a statement.
The loan refinances the US$240mln facility which funded the acquisition of Texon last summer, it added.
The new notes mature in 2028 and 2030, beyond the existing USPP tranches.