3rd Jun 2005 12:23
ICAP PLC03 June 2005 3 June 2005 Completion of US$ Subordinated Debt Private Placement ICAP plc (IAP.L), the world's largest voice and electronic interdealer broker,announces completion of the documentation for a US$225 million 10 yearsubordinated debt private placement. The funding will take place at the end ofJune 2005. The entire debt issue will qualify as Tier II Capital for regulatorypurposes. The placement includes US$193 million of fixed rate debt and a US$32million floating rate component. The fixed rate debt will be at a 5.84% couponwith a 10 year maturity. At the fifth anniversary, the fixed debt will reset toa floating rate with a 50 basis point step up on the relevant floating rate.ICAP has an option to repay the fixed debt at five years, and the floating debtafter two years. HSBC were the sole placement agent for this transaction. Enquiries Mike Sheard Director of Corporate Affairs (44) 207 0750 7103 About ICAP ICAP is the world's largest voice and electronic interdealer broker with a dailyaverage transaction volume in excess of $1 trillion, 50% of which is electronic.The Group is active in the wholesale market for OTC derivatives, fixed incomesecurities, money market products, foreign exchange, energy, credit and equityderivatives. Please go to www.icap.com for more information. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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