Pricing of Bond

RNS Number : 7839N

National Express Group PLC

28 October 2016

 

28 October 2016

National Express announces pricing of 7-year bond under the £1 billion Euro Medium Term Note Programme

National Express Group PLC ('National Express' or the 'Group') announces that it has priced the issue of a £400 million 2.5 per cent bond due 11 November 2023 (the 'Bond') under the £1,000,000,000 Euro Medium Term Note Programme.   The Bond is expected to be rated Baa3 by Moody's and BBB- by Fitch.  The joint bookrunners for the issue are Bank of America Merrill Lynch, Barclays, HSBC and Santander. 

National Express intends to use the proceeds of the Bond for general funding purposes including the repayment of existing debt.

Commenting on the issue, Matthew Ashley, Group Finance Director, said:

"We are delighted by the success of this issue and by the strong support shown by bond investors in National Express Group".

Enquiries

National Express Group PLC
Matthew Ashley, Group Finance Director	0121 460 8655
Louise Richardson, Investor Relations Manager	07827 807766
Maitland
Rebecca Mitchell	020 7379 5151

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