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RNS Number : 3627Q Coats Group PLC 20 February 2023
20 February 2023
Coats Group plc
$250m US private placement
Coats Group plc ('Coats' or the 'Company'), the world's leading industrial
thread and footwear components manufacturer, today announces the successful
completion of a competitively priced $250m issue of US Private Placement
('USPP') notes.
The issuance, on investment grade terms and heavily oversubscribed, refinances
the $240m facility which funded the acquisition of Texon in June 2022. The new
notes mature in 2028 and 2030, beyond the existing USPP tranches.
Enquiry details
Investors Chris Dyett Coats Group plc +44 (0)797 497 4690
Media Richard Mountain / Nick Hasell FTI Consulting +44 (0)20 3727 1374
About Coats Group plc
Coats is a world leader in thread manufacturing and structural components for
apparel and footwear, as well as an innovative pioneer in performance
materials. These critical solutions are used to create a wide range of
products, including ones that provide safety and protection for people, data
and the environment. Headquartered in the UK, Coats is a FTSE250 company and a
FTSE4Good Index constituent. Revenues in 2021 were $1.5bn.
Trusted by the world's leading companies to deliver crucial, innovative, and
sustainable solutions, Coats provides value-adding products including apparel,
accessory and footwear threads, structural footwear components, fabrics, yarns
and software applications. Customer partners include companies from the
apparel, footwear, automotive, telecoms, personal protection, and outdoor
goods industries.
With a proud heritage dating back more than 250 years and spirit of evolution
to constantly stay ahead of changing market needs, Coats has operations across
some 50 countries with a workforce of over 17,000, serving its customers
worldwide.
Coats connects talent, textiles, and technology, to make a better and more
sustainable world. Worldwide, there are three dedicated Coats Innovation Hubs,
where experts collaborate with partners to create the materials and products
of tomorrow. It participates in the UN Global Compact and is committed to
Science Based sustainability targets for 2030 and beyond, with a goal of
achieving net-zero by 2050. Coats is also committed to achieving its goals
in Diversity, Equity & Inclusion, workplace health & safety, employee
& community wellbeing, and supplier social performance.
To find out more about Coats visit www.coats.com
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