9th Nov 2015 17:49
LONDON (Alliance News) - Sky PLC on Monday said it has successfully priced EUR500 million of euro-denominated bonds to be issued under its GBP5 billion global medium-term note programme.
The net proceeds will be used to refinance existing bond maturities and for general corporate purposes, Sky said.
The bonds have a coupon of 2.3% and are due in 2025. Sky said it expects the blended pretax cost of the bonds to be 4% per year. Following the deal, Sky's overall pretax cost of debt will be below 4% per year with an average maturity across the total bond portfolio of 7.5 years.
Shares in Sky closed down 0.9% at 1,077.69 pence on Monday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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