Business
Rolls-Royce Announces Senior Notes Offering
Rolls-Royce Announces Senior Notes Offering.
About this update from Rolls-royce Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1427B\n Rolls-Royce Holdings plc\n 05 October 2020\n \n \n \n \n NOT FOR PUBLICATION OR DISTRIBUTION IN OR INTO CANADA, JAPAN OR AUSTRALIA.\n \n \n \n \n \n THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF ROLLS-ROYCE HOLDINGS PLC OR ROLLS-ROYCE PLC. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.\n \n \n \n 5 October 2020\n \n \n \n \n \n \n \n \n ROLLS-ROYCE ANNOUNCES\nSENIOR NOTES OFFERING \n \n \n \n \n \n Further to its announcement of its recapitalization package on 1 October 2020, Rolls-Royce Holdings plc (the \"Company\" and together with its subsidiaries, the \"Group\" or \"Rolls-Royce\") today announces that it is commencing a series of meetings with fixed income investors with a view to launching, subject to market conditions, an offering (the \"Bond Offering\") of senior unsecured notes, which will be denominated in US dollars, euros and/or pounds sterling, targeting maturities of 2026 (long 5 year) and 2027 (straight 7 year) (the \"Notes\"). The Notes will be issued by \n Rolls-Royce plc\n , a wholly-owned subsidiary of the Company, and guaranteed by the Company. \n \n \n \n \n \n The Group intends to raise gross proceeds of at least £1bn from the Bond Offering and use these proceeds together with those of the rights issue that forms part of the recapitalization package to enhance its financial resilience and deliver a more appropriate balance sheet in order to position the Group for the post COVID-19 environment. This will enable the Group to improve its liquidity headroom, reduce its level of balance sheet leverage while supporting disciplined execution and investment to ensure maximized value for existing capabilities.\n \n \n \n \n \n \n \n \n \n \n \n IMPORTANT INFORMATION\n \n \n \n \n \n NOT FOR PUBLICATION OR DISTRIBUTION IN OR INTO CANADA, JAPAN OR AUSTRALIA.\n \n \n \n \n \n Certain statements made in this announcement are forward-looking statements. Such statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially ...