By Lisa Kerner
Charlotte, N.C., Sept. 3 - Low & Bonar plc announced it completed a private placement of 5.9% senior unsecured notes due September 2016 to raise €45 million with Pricoa Capital Group Ltd., an institutional investment unit of Prudential Financial, Inc.
Proceeds will be used to repay drawings under the company's existing bank facilities that expire in December 2011.
Low & Bonar is a performance materials company based in London.
| Issuer: | Low & Bonar plc
|
| Issue: | Senior secured notes
|
| Amount: | €45 million
|
| Maturity: | September 2016
|
| Coupon: | 5.9%
|
| Distribution: | Private placement
|
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