By Lisa Kerner
Charlotte, N.C., April 12 - Faiveley Transport Group announced the private placement of a $75 million bond issue with two U.S.-based institutional investors.
The placement was made up of two tranches:
• $30 million of bonds with a 10-year final maturity that are redeemable between 2017 and 2022; and
• $45 million of bullet bonds with a 10-year maturity.
The issue bears an average fixed interest rate of 4.91%.
Proceeds will be used to secure long-term funding requirements, particularly those related to Faiveley's acquisition of Graham-White, a company news release said.
Paris-based Faiveley provides high-tech components for rail systems.
| Issuer: | Faiveley Transport Group
|
| Issue: | Bonds
|
| Amount: | $75 million
|
| Coupon: | Average fixed rate of 4.91%
|
|
|
| Tranche 1
|
| Amount: | $30 million
|
| Maturity: | 10 years
|
| Call option: | Between 2017 and 2022
|
|
|
| Tranche 2
|
| Amount: | $45 million
|
| Maturity: | 10 years
|
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