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You are here: Home / Latest News / Brambles Prices €500 Million Eurobond Issue

Brambles Prices €500 Million Eurobond Issue

April 14, 2011 By Rick LeBlanc Leave a Comment

Brambles has priced a seven-year benchmark €500 million Eurobond issue with a fixed coupon of 4.625 per cent and a maturity date of 20 April 2018. It will be listed on the Singapore Exchange.

Brambles expects to receive proceeds from the bond issue on 20 April 2011 and intends to use these proceeds to retire existing bank debt. Brambles CFO Greg Hayes said: “This bond issue will further strengthen Brambles’ balance sheet and demonstrates the ability of the company to secure long-term debt from global capital markets at attractive interest rates.

“This bond issue reflects our policy of maintaining a mix of high-quality funding sources matched to our asset and revenue base, and follows our successful debut issuance into the US144A market in 2010.”

The bond will be issued by Brambles Finance plc and is guaranteed by Brambles Limited and two of its subsidiary companies, Brambles Finance Limited and Brambles USA Inc.

Filed Under: Latest News, Pallets

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