Sky prices EUR500 million 10 year fixed rate bond

Sky prices EUR500 million 10 year fixed rate bond 

Sky plc announces today that it has successfully priced €500 million of Euro denominated bonds to be issued under its £5,000,000,000 Global Medium Term Note Programme (the "Bonds"). The net proceeds from the issue of the Bonds are expected to be used to refinance existing bond maturities and/or for general corporate purposes.

The Bonds (due to be issued on 17 November 2015) have a coupon of 2.25%, and are due 2025.

After swapping into fixed rate sterling, and after all professional, advisory, rating agency & legal fees, the company expects the blended pre-tax cost of the Bonds to be 4.0% per annum.

Following this deal, Sky's overall pre-tax cost of debt will be below 4% per annum with an average maturity across the total bond portfolio of 7.5 years.

Sky's credit ratings with Standard & Poor's and Moody's are BBB (stable) and Baa2 (stable), respectively.

Address of Issuer:

Sky plc

Grant Way

Isleworth

Middlesex TW7 5QD

Analyst/Investor Enquiries:

Tanya Richards +44 20 7032 3019

Ed Steel +44 20 7032 2093

Press Enquiries:

Robin Tozer +44 20 7032 0620