PRIVATE PLACEMENT OF LOAN NOTES


 

TIDMCHG 
 
RNS Number : 8215C 
Chemring Group PLC 
20 November 2009 
 

FOR IMMEDIATE RELEASE 
                       20 NOVEMBER 2009 
 
 
CHEMRING GROUP PLC 
 
 
PRIVATE PLACEMENT OF LOAN NOTES 
 
 
 
 
Chemring Group PLC ("Chemring" or "the Group") announces that it has completed a 
$280 million private placement of fixed interest loan notes with a number of 
institutional investors. 
 
 
$80 million of the loan notes will mature in November 2016, and $200 million 
will mature in November 2019. The total issue carries an interest rate of 
approximately 5.5%, a more favourable rate than the Group currently enjoys. The 
proceeds will be used to fund the acquisition of Hi-Shear Technology 
Corporation, repay existing short and medium term debt, and provide additional 
working capital facilities for the Group. 
 
 
Paul Rayner, Finance Director of Chemring, said: 
 
 
"This private placement is our second offering, and we are delighted with the 
response from both existing and new investors. The strengthening of our balance 
sheet following the issue of the new loan notes will give us greater flexibility 
as we continue to pursue our growth strategy." 
 
 
 
 
 
 
 
 
 
 
For further information: 
 
 
+------------------+-----------------------------------------+-------------------+ 
| Paul Rayner      | Finance Director, Chemring Group PLC    | 01489 881880      | 
+------------------+-----------------------------------------+-------------------+ 
| Rupert Pittman   | Cardew Group                            | 0207 930 0777     | 
+------------------+-----------------------------------------+-------------------+ 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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