Moody's: Carmeuse notes B1

Moody's Investors Service said it affirmed the B1 rating on Carmeuse Holding SA and assigned a definitive B1 rating to its new senior secured notes.

The outlook remains positive.

Carmeuse announced a plan to refinance part of its existing debt with new senior secured notes for $375 million and new bank loans, Moody's said.

The actual final size of the notes issuance has increased to $450 million and the amount of the bank loans has been reduced accordingly by $75 million, the agency said.

The new senior unsecured notes will have a seven-year tenor, are guaranteed by Carmeuse Holding and will rank pari passu with the new senior secured bank debt, Moody's said.

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