LONDON (Alliance News) - FTSE 250-listed technology-focused insurance provider Hastings Group Holdings PLC said on Thursday it intends to issue up GBP250 million of investment grade senior bonds.
The bonds are expected to last seven years with a fixed rate and be rated BBB by Fitch Ratings Ltd.
If the issue is carried out, the bonds will give Hastings long term financing and reduce its exposure to interest rate movements. Proceeds will also go towards partly repaying the existing short term revolving credit facility.
Shares in Hastings Group Holdings were down 0.2% at 273.00 pence on Thursday.
