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DSG International, John Lewis Bond, Tender Offers Continue Trend

Thu, 15th Jul 2010 11:39

LONDON (Dow Jones)--Electrical and computing retailer DSG International PLC (DSGI.LN) announced Thursday an offer to buy back existing bonds and planned a new five-year issue, continuing the recent trend of companies looking to extend their debt maturities. U.K. retailer John Lewis PLC is also planning a 15-year, sterling-denominated bond after its tender offer for a 2012-dated note expired Wednesday. Guidance on the new bond has been set in the range of 220 to 230 basis points over gilts, one of the banks working on the sale said Thursday. Barclays Capital PLC and HSBC Holdings PLC are lead managers on the deal. The two deals follow similar ones from French electrical equipment company Schneider Electric SA (SU.FR), France-based utility group Veolia Environnement (VIE.FR) and British American Tobacco (BATS.LN). DSG has offered to buy back GBP140 million of its GBP300 million, 6.125% guaranteed bonds due 2012. The offer expires July 22. The company also planned to issue up to GBP150 million of guaranteed, fixed-rate notes with expected maturity in 2015. Fitch Ratings Wednesday revised DSG's outlook to positive from stable and affirmed the company's rating at B. -By Art Patnaude, Dow Jones Newswires; +44 (0) 207 842 9259; art.patnaude@dowjones.com (Ainsley Thomson contributed to this report) (END) Dow Jones Newswires July 15, 2010 06:39 ET (10:39 GMT)
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14 Aug 2012 16:58

Meggitt director stocks up following good H1 revenue growth

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26 Apr 2011 14:16

John Lewis of Hungerford reports strong first half

Upmarket kitchen group John Lewis of Hungerford has reported an 18% increase in turnover for the half year ended 28 February as a result of the combination of like-for-like sales growth a new store openings. However, chairman Malcolm Hepworth warned of margin pressures through raw material price in

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25 Feb 2010 16:44

Fidessa directors offload shares

Financial software provider Fidessa's chief executive and chairman have sold shares less than one week before they go ex-dividend. Fidessa announced a 40p a share special dividend when it published its 2009 figures at the beginning of last week. This is in addition to a 20p a share final dividend

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18 May 2009 06:20

Monday newspaper round-up: Lloyds Banking, Shell, BT

The departure of Sir Victor Blank has opened the floodgates on City demands for Lloyds Banking Group to unwind its fateful merger with HBOS which led to the chairman's downfall. A powerful combination of investors as well as business and political leaders are arguing that the superbank should be de

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