Deceuninck NV, the listed company parent of Deceuninck UK, announces a very successful retail bond issue.
On 20 November, the first day, demand was substantially oversubscribed by 1.5 times and the maximum amount of €100,000,000 was reached.
The funds will be used for working capital, capital expenditure, further organic growth, growth by means of takeovers and repayment and further reduction of credit agreements as described in the issue prospectus. An application was submitted for listing and trading of the bonds on Euronext Brussels.
“We are delighted with the major interest and confidence of investors in Deceuninck” say Tom Debusschere, CEO. “After just one day the amount was subscribed at 175%. We are grateful to the investors. Our entire staff will continue to innovate, launch growth projects and improve efficiency to allow for further profit growth.”
Commenting on the implications for the UK, Deceuninck MD Roy Frost says: “Investors like what Deceuninck is doing. In the UK we’ve invested in innovative, pretty products that give customers the edge, in colour, quality, service and support for customers to help them build their business. This year we invested in two fantastic products and a large scale, state of the art distribution centre to hold all our new colours-from-stock range so we stay the best Sysco for service. Slider24, the first of the two fantastic products, is a great looking sliding patio door system that sets new performance standards. The other, a new Fully Reversible Window (FRW) is free of old legacy issues and is the FRW for others to catch up and beat.
“In recent annual and quarterly results,” Roy confirms, “Deceuninck has highlighted our strong growth in the UK & Ireland and set us the target of getting to No 3 in the UK & Ireland. We’re on track.”
To find out more about Deceuninck’s Slider24, FRW, and pretty windows, and what Deceuninck can do to help you sell them, call Roy Frost, Managing Director on 07808 365234. Follow @DeceuninckUK and visit www.WhyDeceuninck.com.
For more information on Deceuninck’s Retail Bond, share price or financial performance: