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British Land Company PLC Announces GBP200 Million Raised In US Private Placement Transactions

Friday, 6 Sep 2013 03:00am EDT 

British Land Company PLC announced that it has signed terms with two of its existing US investors for the issuance of GBP200 million 12 year notes, which will fund in the first quarter of 2014. The two Sterling fixed rate notes of GBP100 million each have been agreed with New York Life and Pricoa Capital Group, and swapped to an effective floating rate of 3 month LIBOR plus 103bp. The attractiveness of this funding opportunity was enhanced by the ability of the US investors to provide Sterling and to defer draw down, enabling the Group to continue to benefit from historical low margin bank facilities. 

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3.0 +0.44%
8:17am EDT