Kingspan raises $200m from debt issue

BUILDING materials group Kingspan has raised $200 million (€152 million) from a successful debt issue with American investors.

The debt will be repayable over periods between 10 and 12 years and attracts rates that the company described as “the tightest to date” achieved by an Irish corporate.

The company said the debt issue was “significantly oversubscribed” and brought a fresh group of investors to Kingspan. “The very positive response to the placement reflects the credit quality of Kingspan,” said the company’s finance director Dermot Mulvihill.