10th Aug 2018 07:41
LONDON (Alliance News) - SSP Group PLC on Friday said it intends to issue notes worth USD175 million in the US debt private placement market.
The FTSE 250-listed firm, which operates branded catering and retail units at airports and railway stations, said the five series of debt notes will be issued in October.
SSP plans to place USD40 million notes at 4.35% maturing in 2025, USD40 million notes at 4.50% due 2028, USD40 million notes at 4.60% due 2030, GBP21 million notes at 2.85% due 2025, and GBP21 million notes at 3.06% due 2028.
The company will use the proceeds for the repayment of debt, with any remainder being used for general corporate purposes. As at the end of March, the company had net debt of GBP290.1 million.
SSP said the issue of the notes will allow it to diversify its sources of debt financing and extend its debt maturity profile out to 2030.
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