28th Apr 2011 16:48
28 April 2011 FIRSTGROUP PLC FirstGroup announces private placement of loan notes for US Dollar 150 million
FirstGroup plc ("The Group") has today issued private placement notes for $150m to Pricoa Capital Group. The notes are unsecured, have a fixed rate coupon of 4.26% per annum and an average duration of 6 years. The proceeds will be used to reduce bank debt. The notes include terms similar to the Group's 5 year committed $1.25bn bank revolver facility executed in December 2010.
Commenting, Jeff Carr, Finance Director said:
"Further to the Group's successful bank refinancing in December 2010, this private placement transaction further improves debt refinancing risk, liquidity headroom and debt diversity over the medium term, at an attractive fixed interest rate, and reflects the Group's ongoing pro-active management of its debt arrangements".
Contacts FirstGroup plc:Jeff Carr, Finance DirectorTel: +44 (0) 20 7291 0512
Rachael Borthwick, Group Corporate Communications Director
Tel: +44 (0) 20 7291 0508Ian WeldonGroup Treasury & Tax DirectorTel: + 44 (0) 1224 562121
vendorRelated Shares:
Firstgroup