Bord na Móna says it has completed a private placement of $150m with a number of US Financial Institutions.
Bord na Móna, which prior to this transaction was unborrowed, said the finance places them in a strong position and will allow them to fund the first stage of their planned investment in renewable energy, power generation and Waste Management projects.
The debt is comprised of 7, 10 and 12 year unsecured senior notes repayable in full in 2013, 2016 and 2018. They have been swapped into fixed interest rate euro, eliminating exposure to currency or interest rate risks.
