Kingspan negotiates $200m debt placement

Construction products group Kingspan has negotiated $200m (€154m) through a private placement of debt with a group of US investors.

The proceeds of the issue have been converted into euro and will be used to repay existing bank borrowings and for general corporate purposes.

The placement has been facilitated and arranged through Bank of Ireland Corporate Banking with Macquarie Securities (USA) Inc acting as Placement Agent.

Bank of Ireland Global Markets controlled and ran the swap auction.

Kingspan’s group finance director Dermot Mulvihill said: "The issue has introduced a new investor group and improved our capital structure by lengthening our debt maturity profile, all at very competitive interest rates."