25th Sep 2014 10:01
LONDON (Alliance News) - Pub operator Enterprise Inns PLC Thursday said the minimum yield for its planned new bond issue will be 5.75%, and said a priority allocation may be given to holders of its outstanding GBP600 million 6.50% secured bonds due 2018
On Monday, the company invited the holders of the outstanding bonds to tender their bonds for cash, up to an aggregate amount of GBP250 million. At the same time it will issue new sterling-denominated fixed-rate secured bonds due 2023. However, it will only issue those bonds if investors have agreed to subscribe for at least GBP200 million.
It wants too manage its future debt obligations and extend the debt maturity dates.
Enterprise Inns shares were down 1.7% at 120.30 pence Thursday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
ETI.L