Meggitt issues $300m in private placement debt

Aerospace, defence and energy technology company Meggitt announced the successful issuance of new private placement debt on Monday.

The FTSE 250 firm said it issued a total of $300m of three- and five-year senior notes to international investors on 19 November.

It said the notes, which were significantly oversubscribed, were made up of $100m at a coupon rate of 2.78%, maturing on 19 November 2023, and $200m at a coupon rate of 3.00%, maturing on 19 November 2025.

“This new debt provides us with additional liquidity and financial flexibility as we look ahead to 2021 and beyond,” the board said in its statement.

At 0906 GMT, shares in Meggitt were up 2.52% at 389.58p.