Finnish nonwoven fabric manufacturer Ahlstrom said it will issue a EUR 100 million senior unsecured callable bond.
The bond which matures on September 15, 2019 carries a fixed coupon interest rate of 4.125 per cent per annum and is callable, subject to certain provisions also before its final maturity.Finnish nonwoven fabric manufacturer Ahlstrom said it will issue a EUR 100 million senior unsecured callable bond. The bond which matures on September#
Ahlstrom will use the proceeds from new bond for refinancing and general corporate purposes of the group.
It will also make an application to list the bond on the official list of NASDAQ OMX Helsinki Ltd.
Earlier on September 2, the producer of high performance fiber-based materials had said it will issue the bonds but had not disclosed the coupon rate and maturity date.
In the second quarter of 2014, Ahlstrom managed to drastically reduce its losses and also report higher operating profit, while also improving its operating margins.
Operating profit rose to EUR 9.6 million in second quarter of 2014 from EUR 6.4 million from the same quarter of 2013.
While, loss before taxes slipped to just EUR 0.4 million from a loss of EUR 3.5 million in the corresponding quarter of 2013.
Products produced at Ahlstrom materials are used in applications such as filters, medical fabrics, life science and diagnostics, wall coverings and food packaging. (AR)
Fibre2fashion News Desk - India
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