Belgium’s Balta will reduce debt with business divestment

Chicago, Nov. 29 – Balta Group NV will reduce its debt with the sale of its rugs, residential polypropylene and non-woven businesses, according to a press release.

The transaction has an enterprise value of €225 million and is expected to close in the second quarter of 2022.

The company has secured a commitment for new senior secured notes after the transaction is completed.

With cash proceeds from the transaction and the new notes, the company will offer existing noteholders the opportunity to retain their notes or to receive a cash payment.

Balta Group is a producer of textile floor coverings.

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