SIG considering tender offer to refinance €300m bond

10th Oct 2024 08:53

(Sharecast News) - Europe-focused building products and specialist insulation supplier SIG has indicated that it is looking a potential tender offer for its existing bonds as it looks to refinance debt.

Responding to press speculation, the company said that it was considering options for a €300m bond, which is due to mature in November 2026.

The company had said last week that it was evaluating the "optimal approach" to the refinancing of its debt facilities ahead of their maturity dates.

"In this regard, SIG is exploring a potential tender offer for its existing bonds, to be financed from the proceeds of a new bond issuance," SIG said. However, it noted that there was no certainty that either transaction will be concluded, nor as to their terms.

"The company will make a further announcement as and when appropriate."

The stock was up nearly 4% at 20.45p by 0900 BST.