Kingspan raises $200m from US investors

Kingpsan has raised $200 million from a group of US investors in a bond issue that was significantly over subscribed.

Kingpsan has raised $200 million from a group of US investors in a bond issue that was significantly over subscribed.

The Cavan-based construction specialists raised the money through a private placement of 10- and 12-year senior notes with a group of US investors.

Kingspan said the interest rates achieved by the issue were the tightest to date by an Irish corporate.

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

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The placement was arranged by Bank of Ireland with Macquarie Securities acting as placement agent in the US.