US$199.5m and ?58.5m US Debt Private Placement

RNS Number : 9745V

SSP Group PLC

12 April 2019

 

                       LEI: 213800QGNIWTXFMENJ24

12 April 2019

SSP GROUP PLC

US$199.5m and €58.5m US Debt Private Placement

SSP ("SSP" or "the Group"), a leading operator of food and beverage outlets in travel locations worldwide, announces the successful signing of a US$199.5m and €58.5m issue of US Private Placement notes ("Notes"). The Notes will be issued by a wholly-owned subsidiary of SSP Group plc and guaranteed by SSP Group plc and two other wholly-owned Group subsidiaries.

The Notes, which represent SSP's second issue in the US Debt Private Placement market, following its inaugural issue in 2018, carry a fixed rate of interest and will be issued in two stages in July 2019 and December 2019 in four series as set out below:

Amount	US$66.5m	US$66.5m	US$66.5m	€58.5m
Coupon	4.06%,	4.25%	4.35%	2.11%
Issue	July 2019	December 2019	December 2019	July 2019
Maturity	July 2026	December 2027	December 2029	July 2031

Proceeds from the Notes will largely be used for the repayment of existing indebtedness, with any remainder being used for general corporate purposes. The issue of the Notes will allow the Group to continue to diversify its sources of debt financing and extend its debt maturity profile out to 2031.

CONTACTS:

Peter Ogden / Lisa Kavanagh

Powerscourt

[phone]

E-mail: [e-mail]

NOTES TO EDITORS

About SSP

SSP is a leading operator of food and beverage concessions in travel locations, operating restaurants, bars, cafés, food courts, lounges and convenience stores in airports, train stations, motorway service stations and other leisure locations. With over 50 years of experience, today we have more than 37,000 employees, serving approximately one and a half million customers every day. We have business at approximately 140 airports and 280 rail stations, and operate more than 2,600 units in 33 countries around the world.

SSP operates an extensive portfolio of more than 500 international, national, and local brands. Among these are local heroes such as Brioche Doree in Paris, LEON in London, and Hung's Delicacies in Hong Kong. Our range also includes proprietary brands created for the travel sector including Upper Crust, Cabin Bar and Ritazza, as well as international names such as M&S, Burger King, Starbucks, Jamie's Deli and YO! Sushi. We also create stunning bespoke concepts such as Five Borough Food Hall in JFK, New York and Norgesglasset Bar in Oslo Airport.

www.foodtravelexperts.com

 

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