Coats Group plc (LON:COA), the world’s leading industrial thread and footwear components manufacturer, has announced the successful completion of a competitively priced $250m issue of US Private Placement notes.
The issuance, on investment grade terms and heavily oversubscribed, refinances the $240m facility which funded the acquisition of Texon in June 2022. The new notes mature in 2028 and 2030, beyond the existing USPP tranches.
Coats Group is a world leader in thread manufacturing and structural components for apparel and footwear, as well as an innovative pioneer in performance materials. These critical solutions are used to create a wide range of products, including ones that provide safety and protection for people, data and the environment. Headquartered in the UK, Coats is a FTSE250 company and a FTSE4Good Index constituent. Revenues in 2021 were $1.5bn.