Synthomer (SYNT)

Sector:

Industrial Chemicals

Index:

FTSE Small Cap

180.00p
   
  • Change Today:
      7.20p
  • 52 Week High: 334.00p
  • 52 Week Low: 122.50p
  • Currency: UK Pounds
  • Shares Issued: 163.57m
  • Volume: 560,397
  • Market Cap: £294.42m

Synthomer U-turns on refinancing due to 'unfavourable' market terms and conditions

By Michele Maatouk

Date: Thursday 28 Jun 2018

LONDON (ShareCast) - (Sharecast News) - FTSE 250 polymer supplier Synthomer has decided not to go ahead with its proposed €300m unsecured senior notes offer due to "unfavourable" market terms and conditions.
Just three days after announcing the planned refinancing of its bank facilities, Synthomer said it will continue to evaluate a number of alternative refinancing options ahead of its current facilities maturing in 2019 to ensure that it is well positioned to deliver on its strategy of building sustainable growth.

It had said on Tuesday that proceeds from the sale of the notes would be used, along with cash on hand and borrowings under the new revolving credit facility, to repay all amounts outstanding under its existing revolving credit facility, to repay amounts outstanding under its existing term loan and to pay certain costs, expenses and fees related to the refinancing.

Synthomer also said that the refinancing would strengthen the group's financial position through increased financial flexibility, providing an appropriate capital structure and allowing it to secure, in relation to the notes, an "attractive" fixed interest rate for the next seven years.

At 1525 BST, the shares were down 1.1% to 523.50p.

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Synthomer Market Data

Currency UK Pounds
Share Price 180.00p
Change Today 7.20p
% Change 4.17 %
52 Week High 334.00p
52 Week Low 122.50p
Volume 560,397
Shares Issued 163.57m
Market Cap £294.42m

Synthomer Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
63.99% above the market average63.99% above the market average63.99% above the market average63.99% above the market average63.99% above the market average
46.67% above the sector average46.67% above the sector average46.67% above the sector average46.67% above the sector average46.67% above the sector average
Price Trend
69.68% below the market average69.68% below the market average69.68% below the market average69.68% below the market average69.68% below the market average
6.67% below the sector average6.67% below the sector average6.67% below the sector average6.67% below the sector average6.67% below the sector average
Income Not Available
Growth
12.71% below the market average12.71% below the market average12.71% below the market average12.71% below the market average12.71% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average

Synthomer Dividends

  Latest Previous
  Interim Final
Ex-Div n/a 01-Jun-22
Paid n/a 05-Jul-22
Amount 0.000p 21.30p

Trades for 31-Oct-2024

Time Volume / Share Price
16:35 69,765 @ 180.00p
16:35 1,935 @ 180.00p
16:35 2,074 @ 180.00p
16:35 441 @ 180.00p
16:35 470 @ 180.00p

Synthomer Key Personnel

CFO Lily Liu

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