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Wienerberger signs €600 million facility for acquisition, refinancing
By Mary-Katherine Stinson
Lexington, Ky., April 9 – Wienerberger AG closed on a €600 million credit facility, after completing its acquisition of Terreal’s roofing business, according to a release.
The new nine-year facility provides for flexible payments until 2033.
The interest rate is fully variable, with the possible addition of a supplementary interest rate hedge, depending on further market development.
It was arranged as a club deal with five of the company’s partner banks and refinanced by Oesterreichische Kontrollbank AG.
Proceeds were used to refinance and replace a bridge loan drawn at the acquisition’s closing and will also be used to repay the company’s €250 million bond at maturity in May.
The Vienna-based building products company plans to use the proceeds for general corporate purposes.
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