Last checked at 10 Aug 2018 07:00
LEI: 213800QGNIWTXFMENJ24
10 August 2018
SSP GROUP PLC
US$175 million US Debt Private Placement
SSP ("SSP" or "the Group"), a leading operator of food and beverage outlets in travel locations worldwide, today announces the successful signing of a US$175m issue of US Private Placement notes ("Notes"). The Notes will be issued by a wholly-owned subsidiary of SSP Group plc and guaranteed by SSP Group plc and two other wholly-owned Group subsidiaries.
The Notes, which represent SSP's debut issue in the US Debt Private Placement market and which carry a fixed rate of interest, will be issued in October 2018 in five series: US$40m at 4.35%, maturing in October 2025; US$40m at 4.50%, maturing in October 2028, US$40m at 4.60%, maturing in October 2030, £21m at 2.85% maturing in October 2025 and £21m at 3.06% maturing in October 2028.
Proceeds from the Notes will largely be used for the repayment of existing indebtedness, with any remainder being used for general corporate purposes. The issue of the Notes will allow the Group to diversify its sources of debt financing and extend its debt maturity profile out to 2030.
CONTACTS:
Peter Ogden / Lisa Kavanagh
Powerscourt
+44 (0) 207 250 1446
E-mail: ssp@powerscourt-group.com
NOTES TO EDITORS
About SSP
SSP is a leading operator of food and beverage concessions in travel locations, operating restaurants, bars, cafés, food courts, lounges and convenience stores in airports, train stations, motorway service stations and other leisure locations. With over 50 years of experience, today we have nearly 35,000 employees, serving approximately a million customers every day. We have business at approximately 140 airports and 280 rail stations, and operate more than 2,500 units in over 30 countries around the world.
SSP operates an extensive portfolio of more than 450 international, national, and local brands. Among these are local heroes such as MASH in Copenhagen, James Martin Kitchen in London, and Hung's Delicacies in Hong Kong. Our range also includes proprietary brands created for the travel sector including Upper Crust, Le Grand Comptoir and Ritazza, as well as international names such as Burger King, Starbucks, Hard Rock Café and YO! Sushi. We also create stunning bespoke concepts such as Five Borough Food Hall in JFK, New York and Walter at Zurich.
www.foodtravelexperts.com