LOG.L Regulatory News (LOG)

11 Jul 2011 09:00

11 July 2011

Logica completes US$300 million Private Placement issue

Logica is pleased to announce the successful completion of a US$300 million issue of Private Placement loan notes ("the notes") from a group of nine institutional investors. The placement was more than two times oversubscribed.

The private placement will extend the maturity profile and diversity of Logica's borrowings and the proceeds of the issue will be used to refinance existing debt facilities.

The notes, equivalent to US$300 million, mature $50 million in 2016, $150 million in 2018 and $100 million in 2021. The proceeds of the notes have been swapped into floating rate Euros at an average rate of Euribor +1.7%.

Tim Allison, Logica Group Treasurer, commented:

"We saw strong demand for the notes. Private placement investors continue to value Logica's long term commitment to growing our recurring revenue with a strong base of European clients and converting that into solid cash flows."

Logica was advised by RBS Securities, Inc. and HSBC Securities (USA) Inc on the transaction.

NOTES TO EDITORSAbout Logica

Logica is a business and technology service company, employing 41,000 people. It provides business consulting, systems integration and outsourcing to clients around the world, including many of Europe's largest businesses. Logica creates value for clients by successfully integrating people, business and technology. It is committed to long term collaboration, applying insight to create innovative answers to clients' business needs.

Logica is listed on both the London Stock Exchange and Euronext (Amsterdam) . More information is available at www.logica.com.

For further information

Logica Investor relations:Karen Keyes/Jose Cano +44 (0) 20 7446 1338/+44 (0) 7801 723 682Logica Media relations:Carolyn Esser +44 (0) 7841 602 391

Brunswick:

Sarah West/Jonathan Glass +44 (0) 20 7404 5959