Mersen strengthens its financial structure

Mersen strengthens its financial structure by extending the average maturity of its debt.

Paris, June 1, 2021 – Mersen (Euronext FR0000039620 – MRN), a global expert in electrical power and advanced materials, announces that it has signed an agreement for a US private placement (USPP) with prime North American investors. The transaction was more than three times oversubscribed.

This financing facility comprises:

• one tranche of USD 60 million with a ten-year term, and
• one tranche of €30 million with a seven-year term.

The USPP was issued at competitive financial conditions, with a weighted average fixed rate of 2.55% over the two tranches. The funds will become available in October 2021 and will be repayable bullet at maturity.

The transaction is aimed at extending the average maturity of the Group’s debt to six years^[1] and refinancing the USD tranche of the USPP maturing in November 2021 under more favorable conditions.

Two investors that have previously provided financing to the Group under similar transactions are participating again in this USPP.

Thomas Baumgartner, Chief Financial Officer of Mersen, declared: “The transaction demonstrates the renewed confidence of our financial partners in Mersen’s financial strength and development. With this USPP, the Group is maintaining a diverse range of funding sources, following the “Schuldschein” private placements in euros carried out in 2016 and 2019.”

[1] Calculated based on utilizations.

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About Mersen

Mersen is a global expert in electrical specialties and advanced materials for high-tech industries. With more than 50 industrial sites and 16 R&D centers in 35 countries around the world, Mersen develops custom-built solutions and delivers key products for clients in order to meet the new technological challenges shaping tomorrow’s world. For over 130 years, Mersen has focused tirelessly on innovation to accompany its clients and meet their needs. Be it in wind power, solar power, electronics, electric vehicles, aeronautics, space or countless other sectors, wherever technology is progressing, you will always find a bit of Mersen.

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