By Lisa Kerner
Charlotte, N.C., Jan. 24 - Neopost SA privately placed a $50 million six-year senior unsecured debt issue with a single investor in the United States.
The new issue was finalized in October at a variable rate of Libor plus 175 basis points, with availability of funds deferred to Jan. 23, according to a company news release.
The placement complements the U.S. private placement of $175 million set up in June 2012.
"With this new tranche complementing our private placement, we are continuing to make the most of the opportunities offered by the U.S. market for obtaining new financing under very favorable conditions," chief financial officer Jean-François Labadie said in the release.
Neopost's net debt of €808 million at July 31 is earmarked for the finance of equipment placed with its clients.
Paris-based Neopost is a manufacturer of postage meters and mailroom equipment.
| Issuer: | Neopost SA
|
| Issue: | Senior unsecured debt
|
| Amount: | $50 million
|
| Maturity: | Six years
|
| Coupon: | Libor plus 175 bps
|
| Announcement date: | Jan. 23
|
| Funds available: | Jan. 23
|
| Distribution: | Private placement
|
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