Braas Monier Building Group S.A. ("Braas Monier") announced that it has completed its refinancing, including the issuance of EUR435.0 million Senior Secured Notes with a coupon of 3.00% per annum and a new Revolving Credit Facility of EUR200.0 million. Both instruments are due 2021. The proceeds, together with available cash, will be used to (i) fully repay all the credit facilities under the existing senior facilities agreement dated 9 April 2014 (ii) redeem in full its EUR315.0 million Senior Secured Floating Rate Notes due 2020 (the "Former Notes"), (iii) fund payments in respect of certain hedging agreements and (iv) pay certain fees and expenses incurred in connection with the refinancing.
Braas Monier also announced that its subsidiary, BMBG Bond Finance S.C.A., has thus raised sufficient funds, together with available cash, to (i) pay and discharge the redemption price of, and accrued interest and any additional amounts, payable on the Former Notes, (ii) repay all the credit facilities under its credit facilities agreement dated 9 April 2014 and (iii) and pay all related expenses. As such, the Refinancing Condition (stated in the notice of redemption issued on 6 June 2016 in respect of the Former Notes) has been satisfied, and the redemption of the Former Notes will occur on 16 June 2016.
For further information, please contact:
- Achim Schreck
- Director Group Communications / Investor Relations
- Braas Monier Building Group
- Tel: +49 6171 61 28 59
- E-mail: firstname.lastname@example.org
- Website: www.braas-monier.com