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Pin to quick picksInforma Share News (INF)

Share Price Information for Informa (INF)

London Stock Exchange
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Share Price: 575.20
Bid: 573.60
Ask: 574.00
Change: 13.20 (2.35%)
Spread: 0.40 (0.07%)
Open: 565.60
High: 575.20
Low: 564.40
Yest. Close: 562.00
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Informa To Issue GBP640 Million Equivalent In Euro Bonds

Tue, 29th Sep 2020 17:39

(Alliance News) - FTSE 100 business events and publishing firm Informa PLC said Tuesday it will issue GBP640 million equivalent in euro bonds, as part of its Covid-19 Action Plan.

The bonds will have a five-year tenure, 2.125% coupon and financial covenants, and combined with the repayment of the US private placement notes will lower the group's average cost of debt to 3.75% from 4.25%.

"Our Cost Management Programme, which has delivered GBP600 million to date, combined with today's bond issue and the planned renegotiation or repayment of our US Private Placement Notes, will help secure positive monthly cash flows by January 2021 and provide long-term liquidity and financing flexibility," said Finance Director Gareth Wright.

Shares in Informa closed down 1.4% at 372.10 pence on Tuesday in London.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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