Business
Bond Offering
Bond Offering.
About this update from Inchcape Plc
[{"type":"text","content":"\n\n \n\n \n \n05 June 2023\n \nInchcape plc announces pricing for new Bond Offering\n \nInchcape plc (\"Inchcape\"), the leading global automotive distributor, announces that on 2nd June 2023 it priced its new £350m bond offering. The bonds mature in June 2028, have a coupon of 6.5% and are expected to be rated Baa2 by Moody's.\n \nProceeds from the offering will be used to repay the Group's existing Bridge Facility, which helped to fund the acquisition of Derco, the initial term for which expires at the end of FY 2023.\n \nAdrian Lewis, Group CFO, commented:\n\"We are pleased with the success of our debut public bond issue, which ensures that Inchcape can maintain a stable, long term capital structure to support our future investment in growth. The high level of interest shown by investors across Europe emphasizes their confidence in our differentiated market position, our strong financial profile and our exciting growth prospects.\"\n \n \nContacts\n\n\n\nInchcape plc:\n\n\n\n\n\n\n\n\n\n\n\n\n\nRob Gurner\n\n\nInvestor queries\n\n\n+44 (0)7825 189088\n\n\[email protected]\n\n\n\n\nKrishma Arora\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nMedia enquiries\n(Brunswick Group):\n\n\n\n\n\n\n\n\n\n\n\n\n\nKate Holgate / Helen Smith\n\n\n\n\n\n+44 (0)20 7404 5959\n\n\[email protected]\n\n\n\n \nAbout Inchcape\nInchcape is the leading global automotive distributor, with operations across six continents. Through the unique expertise of our people, our suite of cutting-edge technology products, and our approach to advanced data analytics, we provide the platform for the world's leading mobility companies to accelerate their ambitions in markets where we and our partners want to succeed.\nOur distribution platform connects the products of mobility companies with customers, and our responsibilities span from product planning and pricing, import and logistics, brand and marketing to operating digital sales, managing physical sales and aftermarket service channels.\nInchcape is driven by its purpose of 'bringing mobility to the world's communities, for today, for tomorrow and for the better'. We are committed to making a positive contribution to the communities in which we operate, for our people, for society and for the planet. The Group is headquartered in Lon...