Grafton completes €267m placement

BUILDING materials company Grafton Group says it had placed $325 million (€267m) worth of seven- and 10-year senior notes with a group of US investors to refinance borrowing.

“The proceeds have been converted into sterling and will be used principally to refinance group borrowings and for general corporate purposes,” the company said in a statement.

The placement was arranged by Bank of Ireland’s Corporate Banking and Global Markets divisions, with Macquarie Securities (USA).