|
Future PLC - Bath, England-based online magazine publisher and owner of price comparison website Go Compare - Refinances its £300 million revolving credit facility on the same terms as its existing facility, with a four-year tenor and two one-year extension options. Future also prices its debut £300 million five-year unsecured bond, maturing in 2030, with a 6.75% coupon. The bond is assigned BB+ and Ba2 ratings by S&P and Moody’s, respectively. Chief Financial Officer Sharjeel Suleman says the bond achieves ‘competitive pricing’ and it ‘enhances our access to debt markets, lengthens our maturity profile and provides long-term financing’. Proceeds of the bond will be used for general working purposes, including refinancing the firm’s export development guarantee facility and to repay amounts drawn under its RCF. The group of banks that participated in the bond offer also are supporting the RCF, Future says. Current stock price: 704.00 pence, down 0.6% in London on Friday 12-month change: down 33% Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
