3rd Oct 2013 06:43
LONDON (Alliance News) - The UNITE Group plc (UTG.L) announced the launch of an offering of circa 90 million pounds of Convertible Bonds due 2018. The company said the offering will provide debt finance to fund the Group's regional development programme and also forms part of its wider financial strategy to diversify sources of capital and extend its debt maturity profile.
UNITE Group said, in the near term, the proceeds will be used to replace short term debt maturities resulting in incremental interest savings. Following completion of the transaction and taking into account the proceeds from the share placing in June 2013, the Group will have raised all the capital required for its planned regional development programme.
Copyright RTT News/dpa-AFX
Related Shares:
Unite