Grafton bond set to raise €50m

Grafton Group could be set to raise up to €50m in new financing via the issuance of a new seven- year retail bond.

The builders merchants/DIY group has a strong balance sheet, shrinking debt levels and a loan maturity window stretching out to 2016/2017; but has embarked on a maiden bond issue in order to further diversify its financing mix.

“The group is pleased to launch its first listed retail bond, as part of its strategy of diversifying its sources of funding and extending the maturity profile of its debt,” said group chief executive Gavin Slark.