CSM: signed 300 million USD Private Placement Notes

Diemen / NL. (csm) CSM N.V. has signed a US Private Placement Notes program with eleven institutional investors in the United States and United Kingdom. The issuance of 300 million USD under this program consists of three tranches with maturities of five, seven and ten years, with a weighted average period of 7,2 years and a weighted average interest of 4,1 percent. The proceeds will be made available by the investors on October 28. Part of the proceeds will be used to fully repay the borrowings under the 385 USD Revolving Credit Facility, maturing July 2011 and to reduce the borrowings under the 700 million EUR Revolving Credit Facility with a remaining tenor until July 2014. With this program CSM continues to have a solid balance sheet with ample headroom under the available Revolving Credit Facilities to accommodate further growth, the company said in a disclosure.