30th Nov 2007 14:04
Marks & Spencer Group PLC30 November 2007 Issued: 30 November 2007 Bond Issue On 29 November 2007, Marks and Spencer Group plc (the "Group" or "M&S")successfully launched and priced a US$800 million dual tranche issue of notesissued by Marks and Spencer plc (the "Notes"). The 10-year Notes consist of $500 million aggregate principal amount paying6.250 per cent interest maturing on 1 December 2017 and are priced at a re-offerof 99.343 per cent. The 30-year Notes consist of $300 million aggregateprincipal amount paying 7.125 per cent interest, maturing on 1 December 2037 andare priced at a re-offer of 98.577 per cent. It is expected that the netproceeds of the offering will be used to facilitate the funding, in part, of theGroup's market share buy-back programme announced at its interim results on 6November 2007. The offering is expected to close on 6 December 2007. This new issue represents the Group's first US$ bond issue. M&S has chosen toissue in the US Dollar market in order to introduce US bond investors to theGroup and to diversify its investor base. The Notes were sold to qualifiedinstitutional buyers pursuant to Rule 144A of the US Securities Act of 1933, asamended (the "Securities Act"), and to non-US persons outside the United Statesin reliance on Regulation S of the Securities Act. The Offering Memorandum for the Notes has been approved by the UK ListingAuthority and is available to view at the registered office of Marks and Spencerplc, (Waterside House, 35 North Wharf Road, London, W2 1NW, United Kingdom) andthe registered offices of the financial intermediaries and the paying agent(details of which can be obtained from the FSA's website). Please note that the information contained in the Offering Memorandum for theNotes may be addressed to and/or targeted at persons who are residents ofparticular countries only and is not intended for use and should not be reliedupon by any person outside these countries and/or to whom the offer contained inthe Offering Memorandum is not addressed. Prior to relying on the informationcontained in the Offering Memorandum you must ascertain from the OfferingMemorandum whether or not you are part of the intended addressees of theinformation contained therein. The securities referred to in this document have not been, and will not be,registered under the Securities Act, or under the securities legislation of anystate of the United States, and may not be offered or sold in the United States,other than pursuant to an exemption from, or in a transaction not subject to,the registration requirements of the Securities Act. The issuer of the Notesdoes not presently intend to make a public offer of securities in the UnitedStates or to register any securities under the Securities Act. - Ends - For further information, please contact: Corporate PR Marks & Spencer +44 (0) 20 8718 1919 Investor Relations Marks & Spencer +44 (0)20 8718 3604 / +44 (0) 7747461241 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Marks & Spencer