By Wendy Van Sickle
Columbus, Ohio, May 15 – Neopost SA raised $90 million and €130 million under a Schuldschein German-law private placement, according to a press release.
Of the amounts raised, 50% matures in four years, 35% in five years and 15% in six and seven years.
The funds are raised at a fixed rate for 32% of the total amount and a variable rate for 68%.
Taking into account current three-month Libor and six-month Euribor, the average rate of this new Schuldschein placement stands at 2.55%, which will result in lowering the group’s average cost of debt, according to the release.
The transaction repays the private placement bond amounting to €150 million bearing a 3.5% coupon and the U.S. private placement tranche of $26 million, which mature this year.
Paris-based Neopost is a manufacturer of postage meters and mailroom equipment.
| Issuer: | Neopost SA
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| Issue: | Schuldschein program
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| Amount: | $90 million and €130 million
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| Maturities: | Four, five, six and seven years
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| Distribution: | Private placement
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