TIDMFGP
9 September 2009
FIRSTGROUP PLC
GBP200M BOND ISSUE
FirstGroup plc ("The Group") is pleased to announce the successful launch of GBP
200m 15-year bonds.
The Group has a clear strategy to extend its debt duration and reduce reliance
on bank borrowings. The proceeds of this issue will be used to repay existing
bank debt. The bond has a coupon of 6.875%.
Commenting on the issue, Nick Chevis, Acting Finance Director, said:
"We are very pleased by the successful launch of the Group's fifth bond issue
which was substantially oversubscribed and attracted a high quality order book.
The continued support from fixed-income investors demonstrates the confidence
in the strength and resilience of the Group.
"The launch represents further consistent progress of our plan to reduce
reliance on bank debt and extend our debt maturity profile."
The issue is expected to close on 18 September 2009.
FirstGroup Contacts:
Nick Chevis, Acting Finance Director, Tel: 020 7291 0512
Rachael Borthwick, Corporate Communications Director, Tel: 020 7291 0508
Ian Weldon, Group Treasurer, Tel: 01224 303530
END
(END) Dow Jones Newswires
September 09, 2009 11:00 ET (15:00 GMT)