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Quadient raises upsized private placement loan of 270 million equivalent
Chicago, Nov. 22 Quadient raised 270 million equivalent in an upsized private placement loan through a German Schuldschein transaction, according to a press release.
The loan breaks down into 178 million and $105 million and was upsized from an initially planned 100 million.
The average rate of the new financing is 1.63%, lowering the groups average cost of debt.
Maturities range from five to seven years.
The new financing anticipates a significant part of the refinancing of private placement debt maturing in 2022 (81 million) and 2023 (187 million).
It also assists in the repayment of Odirnane bonds by June 2022 for 265 million.
Paris-based Quadient is a manufacturer of postage meters and mailroom equipment.
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