Pricing of debut Senior Notes Offering

RNS Number : 4077E

Ferguson PLC

18 October 2018

 

18 October 2018

NOT FOR PUBLICATION OR DISTRIBUTION IN OR INTO CANADA, JAPAN OR AUSTRALIA.

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF FERGUSON PLC. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

FERGUSON PLC

Ferguson plc announces pricing of its debut Senior Notes Offering

Ferguson plc (the "Group"), the world's leading specialist distributor of plumbing and heating products, is pleased to announce the pricing of an offering of $750 million (aggregated principal amount) of 4.5% senior unsecured notes due 2028 (the "Offering"). The Notes will be issued by a wholly-owned subsidiary of Ferguson plc and guaranteed by Ferguson plc and another wholly-owned Group subsidiary. The Offering is expected to close on 24 October 2018.

The Group intends to use the proceeds from the Offering for general corporate purposes and to increase liquidity. The Group's capital priorities and commitment to maintaining a strong balance sheet are unchanged.

Mike Powell, Group Chief Financial Officer commented "We are pleased to have successfully priced our debut bond financing at 4.5%. This financing provides additional diversification to the Group's debt structure whilst extending the maturity profile to support future growth."

For further information please contact

Ferguson plc

Mike Powell, Group Chief Financial Officer	Tel:	[phone]
Mark Fearon, Director of Corporate Communications and IR	Mobile:	[phone]
Media Enquiries
Nina Coad (Brunswick)	Tel:	[phone]

Important information:

NOT FOR PUBLICATION OR DISTRIBUTION IN OR INTO CANADA, JAPAN OR AUSTRALIA.

Certain statements made in this announcement are forward-looking statements. Such statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results expressed or implied in these forward-looking statements. Persons receiving this announcement should not place undue reliance on forward-looking statements. Unless otherwise required by applicable law, regulation or accounting standard, the Group does not undertake to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

These materials are not an offer of securities for sale in the United States. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States.

This announcement is for informational purposes only and is directed only at persons who are: (a) persons in member states of the European Economic Area (the "EEA") who are qualified investors (as defined in EU Prospectus Directive 2003/71/EC (as amended, including by EU Directive 2010/73/EU to the extent implemented in the relevant member state)); (b) persons in the United Kingdom who are qualified investors and who are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (ii) persons falling within Article 49(2) (a) to (d) of the Order ("high net worth companies, unincorporated associations, etc."); or (iii) persons to whom an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any senior secured notes may otherwise be lawfully communicated or cause to be communicated (all such persons in (a) and (b) together being referred to as "relevant persons"). This announcement must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons.

-ends-

 

END

 

 

MSCMRBMTMBIBTIP