ETI.L Share News (ETI)

ETI.L Information

There is currently no data for ETI

Enterprise Inns Launches Bond Tender Offer Amid Refinancing (ALLISS)

Mon, 24th Oct 2016 07:45

LONDON (Alliance News) - Enterprise Inns PLC said Monday it is making a tender offer to repurchase outstanding bonds as it issues new bonds and enters a new revolving credit facility.

Enterprise said it is making a tender offer to repurchase GBP250 million worth of outstanding 6.5% secured bonds which are due 2018, at a cash price equal to 111% of their nominal amount. Enterprise noted GBP350.5 million worth of the original GBP600 million bond issue remains outstanding.

The tender offer is part of a refinancing, as Enterprise has entered into a new GBP120 million revolving credit facility and also will issue at least GBP150 million worth of new bonds. The new bonds will be issued at a fixed rate no lower than 6.375% a year, and will be due in 2022.

Shares in Enterprise Inns were up 0.6% at 89.50 pence Monday.

By Adam Clark; adamclark@alliancenews.com

More News

12 May 2015 07:50

Enterprise Inns serves up interims, plans to grow managed and free-of-tie businesses

As it poured out first half results that measured up to targets, pubs group Enterprise Inns impressed the market with plans to increase direct management of pubs and grow its commercial property business. Interim results showed it continued to grow like-for-like net income in the period, up 0.6% but

12 May 2015 07:30

LONDON MORNING BRIEFING: Easyjet Shares Hit By Weak Outlook

12 May 2015 07:11

Enterprise Inns Profit Drops On Debt Refinancing And Property Charges

12 May 2015 06:38

Enterprise Inns to speed up managed pubs rollout

LONDON, May 12 (Reuters) - British pub group Enterprise Inns said it would expand its own managed division and ramp up its commercial property arm as part of plans to protect its business from a new law that will allow publicans to choose where they buy their beer. Almost half of 50,000 UK

12 May 2015 06:35