ERJ staff report (DS)
London -- Conveyor belt maker Fenner PLC has raised $200 million through institutional investors in a private placing of US dollar private placement loan notes
The issue consists of US $200 million Senior Guaranteed Loan Notes with maturities of 10 and 12 years at an average coupon of 5.3 percent. Funding will take place in June and August 2011.
The proceeds of the issue will be used to repay existing debt and to support the Group's growth.
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Press release from Fenner