Pilkington's Japanese owner Nippon Sheet Glass (NSG) has refinanced some of the £1.82bn debt it used to buy the St Helens firm in 2006. NSG defied the global credit crunch to secure the 5y facility of just under £300m. The Sumitomo Mitsui Banking Corp Europe was the lead arranger. The facility will be used to refinance part of the NSG UK £1,82bn loan taken out in 2006 to support the acquisition of Pilkington's entire share capital & debts. The total value of that deal was £2.2bn. Banks who have committed to the facility are Sumitomo Mitsui Banking Corp, Development Bank of Japan., Mizuho Corporate Bank, The Sumitomo Trust & Banking Co, The Norinchukin Bank, Mitsubishi UFJ Trust & Banking Corporation & Bank of Tokyo-Mitsubishi UFJ. Pilkington was founded in 1826, & is one of the UK's best-known companies. It employs 36,000 people worldwide & 2,000 at St Helens.
