Corporate Bond Issuance

RNS Number : 0885O

Grainger PLC

01 August 2014

 



1 August 2014

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, DISTRIBUTE OR PUBLISH THIS ANNOUNCEMENT

Grainger plc ("Grainger" or the "Company")

£75m Corporate Bond Issuance

Grainger, the UK's largest listed residential property owner and manager, announces that it has priced a £75m tap of its £200m 5.0% secured bond due December 2020. The yield to maturity on the tap issue was priced at 4.792%. The issue is expected to close next week.

The proceeds will be used to reduce drawings under the Group's revolving bank facility. This will leave the Group well positioned to take advantage of future investment opportunities in the residential market.

The credit rating on the bond remains unchanged at BB+ stable, rated by Fitch and Standard and Poor's ratings agencies.

-ENDS- 

For further information:

Grainger plc                                                                Tel: [phone]

Andrew Cunningham, Chief Executive

Mark Greenwood, Finance Director

Kurt Mueller, Director of Corporate Affairs

FTI Consulting                                                            Tel: [phone]

Stephanie Highett/ Dido Laurimore/Nick Taylor

Disclaimer

The press release shall not constitute an offer to sell or the solicitation of an offer to buy securities. There will not be any sale of these securities in any such state or country in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or country.

This press release may not be distributed, directly or indirectly in or into the United States or to any U.S. person (as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act")). This press release is not an offer of securities for sale or the solicitation of any offer to buy securities in the United States or in any jurisdiction in which such offer or sale would be unlawful. The securities referred to herein have not been and will not be registered under the Securities Act, and may not be offered or sold in the United States absent registration or exemption from registration under the Securities Act.

This press release may include projections and other "forward-looking" statements within the meaning of applicable securities laws. Any such projections or statements reflect the current views of Grainger PLC about further events and financial performance. No assurances can be given that such events or performance will occur as projected and actual results may differ materially from these projections.

Within the United Kingdom, this announcement is directed only at persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 ("relevant persons"). The investment or investment activity to which this announcement relates is only available to and will only be engaged in with relevant persons and person who receive this announcement who are not relevant persons should not rely or act upon it.

 

END

 

 

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