30th Jun 2021 11:38
Saga PLC - Folkestone, Kent-based holiday and insurance provider to over 50s - Receives valid tenders for GBP173.5 million of its 3.375% 2024 notes. Notes GBP150 million of the 2024 notes will remain outstanding. Last Friday, offered new GBP250 million 5.5% guaranteed unsecured bonds due 2026. Saga said the bonds will be guaranteed by Saga Services Ltd and Saga Mid Co Ltd. The bonds will be issued at par and interest will be paid semi-annually in arrears. The proceeds of the offering will be used by Saga to repay in full its existing GBP70 million term loan, to fund the settlement of a concurrent tender offer for up to GBP100 million of its existing outstanding unsecured bonds, and for general corporate purposes.
Current stock price: 401.60 pence, down 1.4% on Wednesday
Year-to-date change: up 59%
By Paul McGowan; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Saga