19th Jan 2017 17:40
LONDON (Alliance News) - TP ICAP PLC said Thurday it has issued GBP500.0 million in unsecured debt.
The interbroker dealer said the senior unsecured notes are due in 2024 and carry a semi-annual coupon of 5.25%.
The debt issue is the first by TP ICAP, which was formed after Tullett Prebon's purchase of its peer ICAP's global broking and information services business, which completed in December 2016. Subsequently, ICAP renamed itself NEX PLC.
"The completion of this important transaction and the strength and depth of investor demand strongly endorse the TP ICAP business. In the first issue of TP ICAP debt, we have successfully refinanced the banking facility used to complete the acquisition of ICAP's Global Broking and Information Services Business. We are now moving forward with our strategy of delivering value for our clients, employees and investors," said Andrew Baddeley, chief financial officer of TP ICAP.
Shares in TP ICAP closed down 1.4% at 437.13 pence Thursday.
By Adam Clark; [email protected]
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