By Lisa Kerner
Charlotte, N.C., Oct. 19 - Stagecoach Group plc issued $150 million of 4.36% 10-year notes in a private placement transaction with U.S. investors on Thursday.
The issue was "substantially oversubscribed," according to a company news release.
Proceeds will be used to repay bank loans that were initially used to finance the acquisition of businesses from Coach America in July 2012, according to a Stagecoach news release.
Stagecoach is a Perth, Scotland-based public transportation company.
| Issuer: | Stagecoach Group plc
|
| Issue: | Senior notes
|
| Amount: | $150 million
|
| Coupon: | 4.36%
|
| Distribution: | U.S. private placement
|
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