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Please find below all Forbo media releases listed by year.
Eglisau, November 21, 2002
Forbo announces that it has successfully concluded a US private placement of USD 275 million with a group of US insurance company investors. The financing runs in terms of five, seven, and ten years. The issue of Notes was significantly oversubscribed and was increased in size from USD 150 million to USD 275 million.
The procured funds will serve to cover general Group financing. For instance, they will be used to refinance existing bank borrowings as well as the April 2002 acquisition of the Swift adhesives business.
Gerold Zenger, CFO of the Forbo Group, commented: "We consider the completion of this debut US private placement a great success, since it ensures long-term financing at attractive conditions. In today's difficult capital market this kind of financing is an interesting option for Swiss companies with a solid background."
Forbo is a global manufacturer of flooring, adhesives as well as conveyor and drive belts. The Group employs some 5700 people worldwide and has an international network of 40 production companies and 80 marketing organizations in 30 countries.
Head of Corporate Communications
Tel: + 41 1 868 25 69
Fax: + 41 1 868 35 69
Chief Financial Officer
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Fax: + 41 1 868 25 26