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Enterprise Inns upsizes fixed-rate secured bonds offer to £250 million, sets 6 3/8% coupon
By Paul Deckelman
New York, Oct. 31 – Enterprise Inns plc announced in a Monday press release that it would upsize a planned offering of fixed-rate secured bonds due 2022 to £250 million, from the originally announced £150 million.
It said that the coupon on the new bonds would be 6 3/8%, with an issue price of par.
Enterprise – a leased and tenanted pub company based in Solihull, England – announced on Oct. 24 that it would sell at least £150 million of the notes, in connection with its tender offer for its £350.479 million of its 6½% secured bonds due 2018 remaining outstanding from the originally issued £600 million. The deadline for the tender was Oct. 28.
The new issue is being brought to market via stabilization managers BNP Paribas, Lloyds Bank, Deutsche Bank and Royal Bank of Scotland.
Paul A. Harris contributed to this report.
© 2015 Prospect News.
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