Belron Reportedly Secures Funding through $250
Million Private Placement
February 7, 2011
Belron SA, which owns Belron US, Safelite and several other auto
glass chains throughout the world, has issued a $250 million private
placement, according to a report
Investopedia.com defines a private placement as "the sale of
securities to a relatively small number of select investors as a
way of raising capital."
According to the Private Placement Letter report, the Belron
private placement was issued through RBS Securities, which is a
part of the Royal Bank of Scotland.
The transaction reportedly has three portions-a $50 million seven-year
note with an annual interest rate of 4.51 percent, a $100 million
10-year note with an annual interest rate of 5.13 percent and a
$100 million 12-year note with an interest rate of 5.25 percent,
according to Private Placement Letter, which cites an unidentified
"source familiar with the situation."
Neither Belron nor its parent company, Belgium-based D'Ieteren,
has issued an announcement about the alleged funding deal, and officials
from Belron had not yet responded to request for comment at press
Stay tuned to glassBYTEs.com
for more information as it becomes available.
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