Frigoglass main funding sources are bond financing and committed bank facilities.
On May 2013, Frigoglass Finance B.V. has successfully issued €250 million Senior Notes due May 15, 2018 at a fixed coupon of 8.25%. The Notes are listed on the Luxembourg Stock Exchange’s Euro MTF market.
|Amount||Coupon||Issue Date||Maturity Date||ISIN (Reg S)*|
|€250m||8.25%||May 20, 2013||May 15, 2018||XS0932291007|
* Rule 144A ISIN code: XS0932307282
The senior unsecured notes issued by Frigoglass Finance B.V. have a rating of B+ from S&P and B2 from Moody’s.
On May 2013, Frigoglass Finance B.V. has signed two bilateral Committed Revolving Credit Facilities of a total amount of €50 million. These facilities will be used for general corporate purposes and carries a floating interest rate over EURIBOR and LIBOR.
The Group maintains credit ratings with Standard and Poor’s Ratings Services and Moody’s Investors Service.
|Rating Agencies||Standard and Poor’s||Moody’s|
|Last review||14 April 2016||29 February 2016|
|Credit Analyst||Maxime Puget||Lorenzo Re|