13th Nov 2009 17:30
United Business Media - Launch of 250m corporate bond
United Business Media Limited (UBM) has launched its debut Sterling corporate bond to raise approximately 250m.
The bond will carry a coupon of 6.50% and will be issued at a discount to par, to yield 6.507% to maturity. The bonds will be issued on 23rd November 2009 with the proceeds used to repay debt outstanding under UBM's existing bank facilities.
Robert Gray, Chief Financial Officer, said:
"'We are delighted with today's bond transaction, which was designed to extendUBM's debt maturity profile and to diversify our sources of funding into thefixed income capital markets. We're happy to welcome our new investors, and weare particularly pleased that the issue has been placed with an impressivegroup of high quality institutional investors. We are gratified to have enjoyedsuch substantial support from the UK institutions that we met during the lastweek". - Ends - ContactsMedia Peter Bancroft Director of Communications E-mail [email protected] Direct telephone +44 20 7921 5961 Chris Barrie Citigate Dewe Rogerson E-mail [email protected] Direct telephone +44 20 7282 2943 Mobile +44 796 872 72 89 Analysts/Investors Email [email protected] Direct telephone +44 20 7921 5095 Andrew Crow +44 20 7921 5940 Notes to Editors1. United Business Media
UBM focuses on two principal activities: worldwide information distribution, targeting and monitoring; and, the development and monetisation of B2B communities and markets. UBM's businesses inform markets and serve professional commercial communities - from doctors to game developers, from journalists to jewellery traders, from farmers to pharmacists - with integrated events, online, print and business information products. Our 6,400 staff in more than 30 countries are organised into specialist teams that serve these communities, bringing buyers and sellers together, helping them to do business and their markets to work effectively and efficiently.
For more information, go to www.ubm.com
vendorRelated Shares:
UBM