Photo: Collected
The Lenzing Group, a supplier of regenerated cellulose fibers for the textile and nonwovens industries, announces that LD Celulose International GmbH (the “Issuer”), a wholly owned subsidiary of its Brazilian joint venture, LD Celulose S.A. (“LDC”), has successfully priced the offering of Green Notes in an aggregate principal amount of USD 650 million.
The Green Notes, which mature on January 25, 2032, and bear a coupon of 7.950 percent per annum, were met with high demand from institutional investors.
Part of the new financing structure of LDC with a total value of USD 1 billion is also a syndicated term loan for USD 350 million. LDC intends to use the net proceeds from this offering, in addition to an amount equivalent to the proceeds from the disbursement under the term loan, and cash on hand, to permanently repay in full the existing financing agreements and to allocate an amount equivalent to the proceeds of the offering of the Notes to finance and refinance eligible investments by the Green Financing Framework. See more.
Source: Online/NAN
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