Synthomer plc (GB:SYNT) has released an update.
Synthomer PLC successfully conducted a cash tender offer, buying back €370 million of its Senior Notes due 2025, prior to their maturity date of July 1, 2025. A total of €412.4 million in notes were tendered, but due to the offer’s oversubscription, a scaling factor was applied to non-priority tendered notes. The repurchase is part of a refinancing strategy, which includes issuing new senior notes and is set to settle on April 19, 2024.
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