IN BRIEF: JTC in 1st US private placement with USD75 million in notes

JTC PLC - Jersey-based professional services company - Debuts in US private placement market with completion of a USD75 million notes issue. The funds are earmarked for financing the Citi Trust acquisition, retaining capacity within its debt existing facilities and to support its growth ambitions, JTC says. Back in September, JTC agreed to buy Citigroup Inc's global fiduciary and trust administration services business for USD80 million. The notes have a 6.25% coupon and five-year term. The US issue diversifies JTC's debt financing while extending maturity on attractive terms, it notes. "The refinancing strengthens our balance sheet, extends our debt maturity profile, and diversifies our capital structure. It also gives the group access to a new debt investor base in the future to support our growth ambitions," says Chief Executive Nigel Le Quesne.

Current stock price: 847.00 pence, up 3.2% on Tuesday morning in London

12-month change: down 13%

By Christopher Ward, Alliance News reporter

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