PaperlinX issues long term unsecured notes

Placement Market. The proceeds will be used to repay short term bank financing.

PaperlinX completed the issue of the notes as follows:

– US$50 million final maturity of 10 years at 5.70%
– US$15 million final maturity of 15 years at 6.05%
– £57.5 million final maturity of 10 years at 6.67%
– £43.8 million final maturity of 15 years at 6.48%

PaperlinX says demand for the bonds was strong with a significant amount of over subscriptions received.

Darryl Abotomey, PaperlinX chief financial officer, says, “The successful placement of these notes provides additional long term fixed interest debt, further strengthening PaperlinX’s balance sheet. We have been able to capitalise on the favourable interest rate environment, and believe that we now have an appropriate mix of long term and short term debt.”

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