Polypipe to repay term loan, lift revolver capacity to £300 million

By Wendy Van Sickle

Columbus, Ohio, Aug. 5 – Polypipe Group plc will repay its £120 million term loan and expand its revolving credit facility by £260 million in connection with an upcoming acquisition, according to a press release.

The company’s revolver will expand to £300 million from £40 million.

The changes are being made in conjunction with Polypipe’s £145 million purchase of the entire issued share capital of ventilation solutions provider Nu-Oval Acquisitions 1 Ltd. That transaction is expected to close by the end of the month.

Polypipe said it expects the new financing structure to provide the company significant flexibility.

Doncaster, England-based Polypipe manufactures plastic pipe systems for the residential, commercial, civil and infrastructure sectors.

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