Informa Regulatory News (INF)

Informa PLC Press Release

29 September 2020

COVID-19 Action Plan Update

Informa (LSE: INF.L), the Information Services, Advanced Learning, B2B Exhibitions and Events Group today announced an update to its COVID-19 Action Plan, providing stability and security in financing through the issue of £640m equivalent Euro Bonds.

· Increased financing flexibility: Issue of £640m equivalent Euro bonds, with 5-year maturities, attractive 2.125% coupon and no financial covenants, following strong market demand for Informa credit; increases the Group's financing flexibility, with average debt maturity of 5.3 years, and combined with the repayment of US Private Placement notes lowers the Group's average cost of debt from 4.25% to 3.75%;

· Investment Grade rating: Coinciding with the Bond issue, Informa's investment grade rating re-confirmed by both S&P and Moody's, reflecting robust subscriptions revenue, long-term strength of B2B brands and pro-active steps to reduce costs and increase liquidity in the face of significant COVID-19 disruption to physical events;

· Stability and security in financing: Following bond issuance, the Group intends to renegotiate or repay US Private Placement notes, removing its point covenant and providing stability and security in financing.