TechnipFMC: 850 million dollar senior bond issue
(CercleFinance.com) - In order to finance its upcoming spin-off, TechnipFMC has announced the launch of an 850 million dollar senior bond issue maturing in 2026 by way of a private placement.
The proceeds from this transaction will be used to repay some of TechnipFMC's debts, as well as spin-off related costs, while providing working capital.
The spin-off will result in the creation of two independent, listed companies: TechnipFMC, a fully integrated technology and services company, and Technip Energies, an engineering and technology specialist.
The spin-off is expected to be completed in the first quarter of 2021, subject to customary conditions and regulatory approvals, TechnipFMC said.
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