Informa buys back €200 million of 1.5% bonds due 2023

By Marisa Wong

Los Angeles, Sept. 8 – Informa plc announced the success of its tender offer for up to €200 million of its €650 million outstanding 1.5% notes due July 5, 2023 with a first par call date of June 5, 2023 (ISIN: XS1853426549) guaranteed by Informa Group Holdings Ltd.

Informa bought back the maximum amount of €200 million, according to a notice on Thursday.

The offer began on Aug. 31 and expired at 11 a.m. ET on Sept. 7.

The company offered €1,001.50 per €1,000 note. Interest will also be paid up to the settlement date.

Settlement is planned for Sept. 9.

The rationale for the offer was to manage the upcoming notes redemption and refinancing risk and to reduce gross debt. The company is using available liquidity for the offer.

Morgan Stanley & Co. International plc is the dealer manager (+44 20 7677 5040, liabilitymanagementeurope@morganstanley.com).

Kroll Issuer Services Ltd. is the tender agent (+44 20 7704 0880, informa@is.kroll.com, https://deals.is.kroll.com/informa).

Informa is a publishing and conference company based in London.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.