Leveraging US Private Placements to Drive Growth

Like many organisations, The Weir Group has historically relied on bank credit facilities as the sole source of debt funding.

Prompted by the financial crisis, they made the decision to conduct a capital management review which was presented to the board in, 2009. In particular they were concerned about the potential impact of the crisis on the availability and cost of financing, and they also wished to review their funding options given both our strong cash generation and ambitious growth aspirations.

Key Points

  • The Weir Group decided in 2009 to review its funding operations
  • As a result it identified the US private placement market as an attractive source of funding
  • The group has made two issues in the USPP market to date and has established a flexible financing model to support its long-term financing needs
  • Future funding strategy will be acquisition-driven with significant capacity to issue in the non-rated markets

Written by

John Jackson
Group Treasurer
Weir Group PLC

Cash & Liquidity Management Series (44 articles)


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