France’s Imerys completes €500mn bond issue

French industrial minerals specialist Imerys has completed a €500 million bond issue due to mature in December 2024 with an annual coupon of 2%, as well as a €100 million tap at 2.5% which is due to mature in November 2020. Both operations, which were aimed at raising funds to finance the acquisition of S&B's activities, were well received by markets, being 2.5 times oversubscribed. Imerys recently signed the absorption of Greece’s S&B Industrial Minerals in one of the biggest international deals in t

Auctions, Used Equipment, Rental & Finance / December 8, 2014

RSSFrench industrial minerals specialist 2912 Imerys has completed a €500 million bond issue due to mature in December 2024 with an annual coupon of 2%, as well as a €100 million tap at 2.5% which is due to mature in November 2020.

Both operations, which were aimed at raising funds to finance the acquisition of 1513 S&B's activities, were well received by markets, being 2.5 times oversubscribed.

Imerys recently signed the absorption of Greece’s S&B Industrial Minerals in one of the biggest international deals in the history of Greek enterprises.

It is reported that Imerys said in a Bourse filing from Paris that the value of the deal stands at €558 million.

After the completion of the absorption process S&B will control 4.5% of the Imerys and S&B chairman Ulysses Kyriakopoulos will have a seat on the Imerys governing board.

Imerys said the deal represented a “strategic combination for the integration of the main activities of S&B.”

It is understood that the absorption of S&B will not affect its bauxite activities.

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