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 from PrivatePlacementLetter.com.

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 time.

Stay tuned to glassBYTEs.com™ for more information as it becomes available.

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