Assura Prices GBP300 Million Senior Unsecured Bond (ALLISS)

LONDON (Alliance News) - Assura PLC said Thursday it successfully priced a senior unsecured ...

Alliance News 12 July, 2018 | 5:14PM
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LONDON (Alliance News) - Assura PLC said Thursday it successfully priced a senior unsecured bond of GBP300 million with a tenor of 10 years.

The bond bears an interest rate of 3% per year.

Following the issuance of the bond, Assura's weighted average debt maturity will increase from 6 years to 8.3 years and the pro forma weighted average cost of debt will be 3.27%.

The company said it will use the proceeds of the bond for general corporate and working capital purposes.

Chief Financial Officer Jayne Cottam said: "The bond extends our maturity profile and provides access to a new capital market which provides further funding to allow us to execute on our GBP225 million pipeline."

Barclays Bank PLC and HSBC Bank PLC acted as joint active bookrunners.

Assura shares closed up 0.7% at 57.70 pence each.

By Elena Cherubini; elenacherubini@alliancenews.com.

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Assura PLC 55.80 GBX -2.11 -
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