By Cristal Cody
Chicago, May 6 – Weir Group plc sold an $800 million offering of 2.2% sustainability-linked notes due May 13, 2026 (BB+) with a Treasuries plus 145 basis points spread on Thursday, according to an informed source.
The notes due May 13, 2026 were talked at Treasuries plus 162.5 bps area.
Goldman Sachs, HSBC, JPMorgan, Mizuho and Wells Fargo Securities are the bookrunners.
Proceeds will be used to refinance maturities falling due within the next 12 months and to repay other debt, according to S&P Global Ratings.
The multinational engineering company is based in Glasgow.
| Issuer: | Weir Group plc
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| Issue: | Sustainability-linked notes
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| Amount: | $800 million
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| Maturity: | May 13, 2026
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| Bookrunners: | Goldman Sachs, HSBC, JPMorgan, Mizuho and Wells Fargo Securities
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| Coupon: | 2.2%
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| Spread: | Treasuries plus 145 bps
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| Trade date: | May 6
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| Rating: | S&P: BB+
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| Price talk: | Treasuries plus 162.5 bps area
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