SUCCESSFUL COMPLETION OF US PRIVATE PLACEMENT

RNS Number : 9922X

Kier Group PLC

26 November 2014

 



26 November 2014

KIER GROUP PLC

SUCCESSFUL COMPLETION OF US PRIVATE PLACEMENT

Kier Group plc (Kier), a leading property, residential, construction and services group, is pleased to announce that it has successfully raised £120m via the US private placement market.

The placement comprises both sterling and dollar notes, with maturities of between 7 and 10 years and a blended interest rate of approximately 4.5%. 

Haydn Mursell, Chief Executive of Kier, said: "We are delighted with the strong support shown by investors. Kier has used the US private placement market since 2003 to diversify the sources and maturities of its debt funding.  

With a significant proportion of our debt now at a fixed rate and committed for at least the next five years, we have successfully reduced our exposure to anyincrease in interest rates over the longer-term." 

- ENDS -

Enquiries

Kier

Press office                                                                              [phone]

Finsbury

Faeth Birch/Daniela Fleischmann                                             [phone]

 

END

 

 

MSCEAXFSASNLFFF