Smith (DS) PLC Debt Issuance Pricing (6695L)
July 20 2017 - 9:56AM
UK Regulatory
TIDMSMDS
RNS Number : 6695L
Smith (DS) PLC
20 July 2017
20 July 2017
DS Smith Plc - prices debt issuance
DS Smith Plc, the leading supplier of recycled packaging for
consumer goods, today announces that, following the announcement of
the proposed acquisition of Interstate Resources and associated
equity and debt financing on 29 June 2017 (the "Transaction"), DS
Smith has successfully launched and priced EUR750,000,000 Notes due
26 July 2024 with a coupon of 1.375% and GBP250,000,000 Notes due
26 July 2029 with a coupon of 2.875% (together the "Notes")
pursuant to its Euro Medium Term Note Programme.
The proceeds of the issue will be used to refinance the GBP 400
million bridge facility entered into at the time of the Transaction
together with other DS Smith existing facilities, significantly
extending the tenure of the DS Smith Group's borrowings.
Adrian Marsh, Group Finance Director, said:
"We are delighted by the response to the acquisition and our
debt issuance. The pricing reflects the Group's prospects,
investment grade credit metrics and significantly lengthens our
maturity profile at highly competitive rates, providing long term,
attractive financing for the business."
Enquiries
DS Smith Plc +44 (0)20 7756 1800
Hugo Fisher, Group Communications Director
Rachel Stevens, Investor Relations Director
DISCLAIMER - INTENDED ADDRESSEES
This publication does not constitute an offering of debt
instruments, and is not for distribution in or into the United
States. The Notes have not been and will not be registered under
the United States Securities Act of 1933 as amended (the
'Securities Act'), or any relevant securities laws of any state of
the United States and, subject to certain exceptions, the Notes may
not be offered, sold or delivered in the United States or to, or
for the account or benefit of, U.S. persons, as such terms are
defined in Regulation S under the Securities Act. Notes in bearer
form are subject to U.S. tax law requirements and may not be
offered, sold or delivered within the United States or its
possessions or to a U.S. person, except in certain transactions
permitted by U.S. tax regulations. Terms used in the preceding
sentence have the meanings given to them by the U.S. Internal
Revenue Code and regulations thereunder. There will be no public
offering of the Notes in the United States.
Please note that the information contained in this announcement
may be addressed to and/or targeted at persons who are residents of
particular countries only and is not intended for use and should
not be relied upon by any person outside these countries.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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