23rd Apr 2009 16:28
23 April 2009 ROLLS-ROYCE ISSUES £500M FIXED-RATE BOND
Rolls-Royce Group plc announces that Rolls-Royce plc has issued a ten year £500 million bond under its £1.75 billion Euro Medium Term Programme.
The Group has taken the opportunity to refinance early given current market appetite and conditions for investment grade issuers.
The new bond carries a fixed-rate annual coupon of 6.75% and matures on 30 April 2019. The notes will be guaranteed by Rolls-Royce Group plc.
The £3.1 billion order book from over 160 investors ensured the transaction was six times over-subscribed. The success of this issue, confirms investors confidence in the creditworthiness of the Group.
The Group is rated A3 by Moody's Investors Service and A- by Standard and Poor's. Both ratings have a stable outlook.
The joint lead managers and joint bookrunners for the issue were Barclays Capital, BNP Paribas and J P Morgan Securities.
For further information please contact:
Mark AlflattDirector of Financial CommunicationsTel: +44 (0)20 7227 [email protected]
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