By Rebecca Melvin
New York, June 30 – Eversholt Funding plc priced £500 million of 2.742% bonds due 2040 (Baa2//BBB+) at par, according to a company news release.
The Regulation S notes priced under Eversholt Funding’s £3 billion multicurrency bond issuance program of Eversholt Funding plc, and are guaranteed by Eversholt Funding plc, Eversholt UK Rails (Holding) Ltd., Eversholt Finance Holdings Ltd., Eversholt Rail Ltd., Eversholt Depot Finance Ltd., Eversholt Rail Leasing Ltd., Eversholt Investment Ltd., European Rail Finance Holdings Ltd., European Rail Finance Ltd. and European Rail Finance (2) Ltd.
The notes are callable and have a change-of-control put. There is an applicable interest ratchet margin of 1.25%.
Joint lead managers of the deal are BNP Paribas, HSBC Bank plc, and RBC Europe Ltd.
London-based Eversholt Funding provides transportation services. It is a subsidiary of CK Hutchison, a multinational conglomerate based in Hong Kong.
| Issuer: | Eversholt Funding plc
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| Guarantors: | Eversholt Funding plc, Eversholt UK Rails (Holding) Ltd., Eversholt Finance Holdings Ltd., Eversholt Rail Ltd., Eversholt Depot Finance Ltd., Eversholt Rail Leasing Ltd., Eversholt Investment Ltd., European Rail Finance Holdings Ltd., European Rail Finance Ltd. and European Rail Finance (2) Ltd.
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| Issue: | Bonds
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| Amount: | £500 million
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| Maturity: | June 30, 2040
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| Coupon: | 2.742%
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| Price: | Par
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| Yield: | 2.742%
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| Calls: | Yes
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| Change-of-control put: | Yes
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| Trade date: | June 30
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| Ratings: | Moody’s: Baa2
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| Fitch: BBB+
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| Distribution: | Regulation S
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