spot_img
spot_img
Bruckner Textile Machinery
Ready To Show textile and Fashion Expo
spot_img
spot_img

Lenzing Group: Joint Venture LD Celulose Successfully Prices Green Notes

  • Pricing of USD 650 million senior secured green notes (the “Green Notes”) at a coupon of 7.950 percent per annum from the joint venture LD Celulose
  • The offering was oversubscribed by 4.6 times as a result of high demand from institutional investors

Lenzing – The Lenzing Group, a leading supplier of regenerated cellulose fibers for the textile and nonwovens industries, announces that LD Celulose International GmbH (the “Issuer”), a wholly owned subsidiary of its Brazilian joint venture, LD Celulose S.A. (“LDC”), has successfully priced the offering of Green Notes in an aggregate principal amount of USD 650 million.

The Green Notes, which mature on January 25, 2032 and bear a coupon of 7.950 percent per annum, were met with high demand from institutional investors.

Part of the new financing structure of LDC with a total value of USD 1 billion is also a syndicated term loan in the amount of USD 350 million. LDC intends to use the net proceeds from this offering, in addition to an amount equivalent to the proceeds from the disbursement under the term loan, and cash on hand, to permanently repay in full the existing financing agreements and to allocate an amount equivalent to the proceeds of the offering of the Notes to finance and refinance eligible investments in accordance with the Green Financing Framework.

“The Lenzing Group has been a pioneer in the sustainable textile and nonwovens industry and the production of dissolving wood pulp for decades and has a clear plan to further green its production”, Rohit Aggarwal, CEO of the Lenzing Group, stated. “The investors’ interest for LDC’s Green Notes is also a result of our sustainability efforts.”

Nico Reiner, CFO of the Lenzing Group: “With the successful transaction, LDC will convert the existing project financing, which enabled the erection of one of the world’s largest dissolving wood pulp plant, into a standalone corporate finance structure. It is another milestone for the joint venture after having surpassed expectations in respect of its nominal design capacity of 500,000 tons per year.”

The Green Notes will be issued by the Issuer and guaranteed by LDC and LD Florestal S.A. The Green Notes will be listed on the Singapore Stock Exchange.

Lenzing Group: Joint Venture LD Celulose Successfully Prices Green Notes

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img

Related News

EDANA Hosts Groundbreaking Sustainability Forum 2024, Showcasing Pathways to a Greener Future for the Nonwovens Industry

EDANA, the leading global association for the nonwovens and...

Trützschler Nonwovens: Navigating the Challenges and Opportunities of Textile Machinery Trade Shows

In the dynamic world of textile machinery exhibitions, Trützschler...

Texcare 2024: Unique Technologies for Textile Care

• Automation, digitization, logistics and AI are essential for...

Autefa’s Perspective on the Growing Landscape of Global Textile Exhibitions

As the textile machinery industry continues to evolve, the...

Lenzing Nonwovens Expands Its LENZING™ Lyocell Dry Fiber Portfolio To Offer Cellulosic Solutions For A Wider Range Of Applications

Lenzing Nonwovens, a supplier of regenerated cellulose fibers, is...

CHT Group Honored by Adidas as a Leader in Sustainability for the Second Time in a Row

Adidas honored the CHT Group as a Champion for...

Biancalani Highlights Eco-Friendly Advances at ITMA Asia 2024

At ITMA Asia + CITME, Biancalani Textile Machinery reaffirmed...

Monforts Leads with Sustainable Innovations at ITMA Asia + CITME

Monforts, a prominent leader in textile finishing machinery, recently...
×