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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 U-turns on refinancing due to 'unfavourable' market terms and conditions

By Michele Maatouk

Date: Thursday 28 Jun 2018

LONDON (ShareCast) - (Sharecast News) - FTSE 250 polymer supplier Synthomer has decided not to go ahead with its proposed €300m unsecured senior notes offer due to "unfavourable" market terms and conditions.
Just three days after announcing the planned refinancing of its bank facilities, Synthomer said it will continue to evaluate a number of alternative refinancing options ahead of its current facilities maturing in 2019 to ensure that it is well positioned to deliver on its strategy of building sustainable growth.

It had said on Tuesday that proceeds from the sale of the notes would be used, along with cash on hand and borrowings under the new revolving credit facility, to repay all amounts outstanding under its existing revolving credit facility, to repay amounts outstanding under its existing term loan and to pay certain costs, expenses and fees related to the refinancing.

Synthomer also said that the 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.

At 1525 BST, the shares were down 1.1% to 523.50p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

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