Wendel: repays 350 million euros in bond debt
(CercleFinance.com) - Wendel has announced that it has repaid the 6.
75% 2018 bond issue maturing on 20 April 2018.
“This repayment improves Wendel's debt profile even further, as the company had already reduced its debt by 43% between March 2017 and March 2018,” the group said.
Wendel's gross debt now stands at 2,519 million euros, with its average cost having declined to 2.19% from 2.74% previously. This enables bond interest costs to be cut by over 20 million euros p.a.
After this repayment, Wendel has 1.3 billion euros in available cash, as well as a 750 million euro undrawn credit line, maturing in 2022.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
75% 2018 bond issue maturing on 20 April 2018.
“This repayment improves Wendel's debt profile even further, as the company had already reduced its debt by 43% between March 2017 and March 2018,” the group said.
Wendel's gross debt now stands at 2,519 million euros, with its average cost having declined to 2.19% from 2.74% previously. This enables bond interest costs to be cut by over 20 million euros p.a.
After this repayment, Wendel has 1.3 billion euros in available cash, as well as a 750 million euro undrawn credit line, maturing in 2022.
Copyright (c) 2018 CercleFinance.com. All rights reserved.