Informa increases funding flexibility with US private placement issue
Business intelligence group Informa has announced the issue of $500m of new US private placement notes which will be used to pay down the majority of the $675m previously arranged and drawn down acquisition facility.
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The notes have been issued in three tranches with a weighted average term of 9.25 years and at a weighted average coupon of 3.6%.
Group finance director Gareth Wright said: “Balance sheet discipline and funding flexibility are all key elements of the 2014-2017 Growth Acceleration Plan.
"Alongside our existing facilities, this provides the group with clarity and financing security following the recent addition of Penton Information Services to the Informa group."