By Lisa Kerner
Charlotte, N.C., Nov. 21 – Tyman plc issued $100 million of debt in the in the U.S. private placement market, according to a news release.
Of the total, $55 million has a seven-year maturity and a 4.97% coupon and $45 million has a 10-year maturity and 5.37% coupon.
Proceeds will be used for general corporate purposes.
Separately, Tyman intends to repay and cancel, prior to year end, the 2013 $100 million acquisition facility put in place in order to acquire Truth Hardware, the release stated.
Once the repayment is complete, Tyman said it will have committed facilities available of about £243 million, together with an uncommitted accordion facility of up to £60 million, with maturities ranging from May 2019 to November 2024.
Tyman is a London-based supplier of components to the door and window industry.
| Issuer: | Tyman plc
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| Issue: | Debt
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| Amount: | $100 million
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| Distribution: | Private placement
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| Amount: | $55 million
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| Coupon: | 4.97%
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| Maturity: | Seven years
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| Amount: | $45 million
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| Coupon: | 5.37%
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| Maturity: | 10 years
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