Assura PLC Pricing of £300m senior unsecured bond (5115U)
July 12 2018 - 11:59AM
UK Regulatory
TIDMAGR
RNS Number : 5115U
Assura PLC
12 July 2018
12 July 2018
Assura plc
Successful pricing of GBP300 million senior unsecured bond
Assura plc ("Assura") is pleased to announce the pricing of its
first sterling-denominated senior unsecured bond (the "Bond") in an
aggregate principal amount of GBP300 million with a tenor of 10
years following a series of UK fixed income investor meetings which
generated strong institutional demand. The Bond will bear interest
at a rate of 3 per cent per annum. The Bond will be issued by
Assura Financing plc and guaranteed by Assura and a number of the
Assura group's subsidiaries.
Fitch Ratings Limited recently assigned Assura an investment
grade rating of A- (stable outlook) and is expected to assign the
Bond an investment grade rating of A-.
Following the issuance of the Bond, Assura's weighted average
debt maturity will increase from 6.0 years to 8.3 years and the pro
forma weighted average cost of debt will be 3.27%.
The Bond issuance is part of Assura's overall financing
initiatives to further diversify its sources of funding and extend
its debt maturity profile. The proceeds of the Bond issuance will
be used for general corporate and working capital purposes.
Barclays Bank plc and HSBC Bank plc acted as joint active
bookrunners. Banco Santander, S.A. acted as passive bookrunners.
Assura was advised on the bond and credit rating by Rothschild
& Co.
Jayne Cottam, Chief Financial Officer, commented:
"We are delighted to have achieved an A- rating from Fitch,
which shows the strength of our business model. This, and the level
of bond investor support we received, has enabled us to price,
successfully, our debut unsecured public bond. The bond extends our
maturity profile and provides access to a new capital market which
provides further funding to allow us to execute on our GBP225
million pipeline."
- Ends -
For more information, please contact:
Assura plc Tel: 01925 420660
Jayne Cottam
Orla Ball
Edelman Tel: 0203 047 2546
John Kiely
Brett Jacobs
Rob Yates
Notes to Editors
Assura plc, a constituent of the FTSE 250 and the EPRA* indices,
is a UK REIT and long-term investor in and developer of primary
care property. The company, headquartered in Warrington, works with
GPs, health professionals and the NHS to create innovative property
solutions in order to facilitate delivery of high quality patient
care in the community. At 31 March 2018, Assura's property
portfolio was valued at GBP1,733 million.
Further information is available at www.assuraplc.com
*EPRA is a registered trademark of the European Public Real
Estate Association
Assura plc LEI code: 21380026T19N2Y52XF72
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END
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