Gestamp places 400 million euros in 8-year senior secured notes
Madrid, April 20th 2018.- Gestamp, the multinational company specialized in the design, development and manufacture of highly engineered metal components for the automotive industry, has successfully completed a new senior secured notes offering for an amount of 400 million euros, due in 2026 and at an annual coupon of 3.25%.
The net proceeds of the issuance will be used to refinance certain of Gestamp’s existing debt facilities, mostly short term, enhancing its financial structure by extending its debt maturity profile.
Gestamp continues to diversify its sources of funding and this is the third time that the company raises long-term notes in the capital markets since 2013.
Standard & Poor's and Moody’s have affirmed Gestamp’s corporate rating with a stable outlook as well as assigned the new bonds with the same rating as the existing bonds.
Gestamp is a Spanish multinational specialized in the design, development and manufacture of highly engineered metal components for top vehicle manufacturers. It develops products with an innovative design to produce lighter and safer vehicles, which offer improved energy consumption and a reduced environmental impact. Its products cover the areas of body-in-white, chassis and mechanisms.
The company is present in 21 countries with more than 100 manufacturing plants and 7 under construction, 13 R&D centers, a workforce of more than 41,000 employees worldwide. Its turnover was €8,202m in 2017. Gestamp is listed on the Spanish stock market under the GEST ticker.