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Prices & Quotes - UK Markets - Synthomer (SYNT)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 529.50p
Change Today:
2.50p
Market Cap:
2,249.59m
Sector:
Chemicals

Synthomer announces EUR 300m refinancing

By Josh White

Date: Monday 25 Jun 2018

LONDON (ShareCast) - (Sharecast News) - Synthomer announced a refinancing of its existing bank facilities on Monday, consisting of an offering of €300m (263.5m) in seven-year unsecured senior notes, and a new €300m four-year revolving credit facility.
The FTSE 250 company said the proceeds of the issue and sale of the notes would be used, together with cash-on-hand and borrowings under the new revolving credit facility, to repay all amounts outstanding under its existing revolving credit facility, repay amounts outstanding under its existing term loan, and to pay certain costs, expenses and fees related to the refinancing.

It said the proposed refinancing would strengthen the group's financial position through increased financial flexibility, providing an appropriate capital structure and allowing it to secure - in relation to the notes - an attractive fixed interest rate for the next seven years.

The group's strategy for further continued profitable growth was expected to be supported with the "efficient capital structure", the board explained.

"This refinancing is being undertaken ahead of the maturity of our current facilities and aims to achieve favourable terms in both the bond and bank markets," said Synthomer chief financial officer Stephen Bennett.

"This new broader capital structure will allow the group more flexibility to deliver on its strategy of building sustainable growth."

Synthomer confirmed there would be no public offering of the notes.

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Synthomer Market Data

Currency UK Pounds
Price 529.50p
Change Today 2.50p
52 Week High 552.00p
52 Week Low 287.80p
Volume 853,448
Shares Issued 424.85m
Market Cap 2,249.59m

Performance Indicators

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What The Brokers Say

Strong Buy 10
Buy 0
Neutral 4
Sell 0
Strong Sell 0
Total 14
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Synthomer Dividends

  Latest Previous
  Final Interim
Ex-Div 03-Jun-21 22-Oct-20
Paid 05-Jul-21 10-Nov-20
Amount 8.60p 3.00p

Trades for 30-Jul-2021

Time Volume / Share Price
16:35 132,032 @ 529.50p
16:29 4 @ 526.50p
16:29 152 @ 526.50p
16:29 149 @ 526.50p
16:29 123 @ 526.50p

Synthomer Key Personnel

CEO Calum MacLean
CFO Steve Bennett