Whitbread PLC Issue of Debt (8280N)
21 May 2015 - 1:03AM
UK Regulatory
TIDMWTB
RNS Number : 8280N
Whitbread PLC
20 May 2015
Whitbread PLC
20 May 2015
NOT FOR DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES OF
AMERICA (OR TO U.S. PERSONS), AUSTRALIA, CANADA OR JAPAN, OR IN ANY
OTHER JURISDICTION IN WHICH OFFERS OR SALES OF SECURITIES WOULD BE
PROHIBITED BY APPLICABLE LAW
Whitbread PLC - issue of debt
Whitbread announces that it has today priced the issue of GBP450
million 3.375% bonds due 2025.
The bonds, which were priced at a spread of 1.50% over the
relevant reference gilt, are expected to be rated BBB (stable) by
Fitch and to be issued on 28 May 2015. They will be unsecured,
issued by Whitbread Group PLC, and guaranteed by Whitbread PLC,
Costa Limited and Premier Inn Hotels Limited. The proceeds will be
used for general corporate purposes.
Commenting on the issue, Nicholas Cadbury, Group Finance
Director, said "we are delighted by the success of this issue and
by the strong support shown by bond investors in Whitbread. We
recently announced new growth milestones for 2020 which highlight
the scale of the opportunity ahead for the Group, and this bond
issue will help finance our investment to achieve them".
For further information contact:
Investor Relations
Nicholas Cadbury, Group Finance Director +44 (0) 1582 888998
Joanne Russell, Director of Investor Relations +44 (0) 7785
451266
Chris Denley, Group Financial Controller +44 (0) 1582 889421
Press Contacts:
Anna Glover, Director of Communications +44 (0) 7768 917651
David Allchurch +44 (0) 207 353 4200
Important Notices
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
This press release is only being distributed to and is only
directed at (i) persons who are outside the United Kingdom or (ii)
to investment professionals falling within Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 (the "Order") or (iii) high net worth entities, and other
persons to whom it may lawfully be communicated, falling within
Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as "relevant persons"). The securities are only
available to, and any invitation, offer or agreement to subscribe,
purchase or otherwise acquire such securities will be engaged in
only with, relevant persons. Any person who is not a relevant
person should not act or rely on this news release any of its
contents.
This press release does not constitute an offer of securities
for sale in the United States. The securities described 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,
sold or delivered within the United States or to, or for the
account or benefit of, U.S. person (as defined in Regulation S
under the Securities Act) absent registration or an applicable
exemption from the registration requirements of the Securities Act.
No action has been made or will be taken that would permit a public
offering in the United States of the securities described
herein.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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