14th May 2007 16:57
British Sky Broadcasting Group PLC14 May 2007 British Sky Broadcasting Group plc today announced that it has priced £300million of Eurobonds due May 2027, at a coupon of 6%. The bonds were the firstto be issued under the group's EMTN program, established in April 2007. Theissue was jointly managed by Barclays Capital and JP Morgan Cazenove. The offering was significantly oversubscribed, and the bonds were priced at123bps over the December 2028 Gilt. The bonds will be issued by British SkyBroadcasting Group plc, and will be guaranteed by BSkyB Finance UK plc, BritishSky Broadcasting Limited, Sky Subscribers Services Limited and BSkyBPublications Limited. The net proceeds of the offering will be used to repay existing drawings underthe group's revolving credit facilities, to refinance maturing bond debt and forgeneral corporate purposes. The offering is expected to close on or about 21 May2007. Jeremy Darroch, Chief Financial Officer, said: "This was a successful bond issue, raising £300 million of long term capital atvery attractive rates. The healthy level of demand shows that the credit marketsrecognise the financial strength of our business and are supportive of ourstrategy of investing in new services such as broadband and telephony." Enquiries: Analysts/Investors: Andrew Griffith Tel: 020 7705 3118Alison Dolan Tel: 020 7705 3623Robert Kingston Tel: 020 7705 3726E-mail: [email protected] Press: Robert Fraser Tel: 020 7705 3036E-mail: [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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