Business
US Private Placement debt issuance
US Private Placement debt issuance.
About this update from Serco Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5730B\n Serco Group PLC\n 09 October 2020\n \n \n \n \n New US Private Placement debt issued\n \n \n \n \n \n 9 October 2020\n \n \n Serco Group plc\n \n \n LEI: 549300PT2CIHYN5GWJ21\n \n \n \n \n \n \n Serco Group plc ('Serco' or 'the Group') has issued $200m (£154m) of US Private Placement loan notes. The notes have maturities of 5, 7, 10 and 12 years, with a weighted average maturity of nearly eight years. The financing has been completed in advance of existing US Private Placement debt maturing in 2021. The average interest rate on the new loan notes is fixed at 3.6%, which compares to a blended rate of 5.3% for the existing notes. \n \n \n \n \n \n A strong capital structure is essential in providing a base for the ongoing execution of our strategy. We are therefore pleased to be able to secure long term debt at attractive interest rates. This is the first time Serco has accessed the US Private Placement market in more than seven years and was possible due to our low financial leverage and resilient business model.\n \n \n \n \n \n Ends\n \n \n \n \n \n For further information please contact:\n \n \n Paul Checketts, Head of Investor Relations, tel: +44 (0) 7718 195 074 or email: \n \n [email protected]\n \n \n \n Marcus De Ville, Head of Media Relations, tel: +44 (0) 7738 898 550 or email: \n \n [email protected]\n \n \n \n \n \n \n About Serco\n \n \n Serco is a leading provider of public services. Our customers are governments or others operating in the public sector. We gain scale, expertise and diversification by operating internationally across five sectors and four geographies: Defence, Justice & Immigration, Transport, Health and Citizen Services, delivered in UK & Europe, North America, Asia Pacific and the Middle East.\n \n \n \n \n \n More information can be found at \n \n www.serco.com\n \n \n \n \n \n \n Important Notices\n \n \n This announcement does not constitute an offer of securities for sale in the United States of America. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the \"\n \n U.S. Securities Act\n \n \") and the notes may not be offered or sold in the United States of America absent registrati...