Business
?150m US Private Placement debt for Covent Garden
?150m US Private Placement debt for Covent Garden.
About this update from Shaftesbury Capital Plc
[{"type":"text","content":"\n \nRNS Number : 4112W Capital & Counties Properties Plc 07 November 2014 \n \n\n7 November 2014\n \n \nCAPITAL & COUNTIES PROPERTIES PLC (\"Capco\")\n \n£150 million US Private Placement debt raised for Covent Garden\n \nCapco announces that Capco Covent Garden Limited, the holding company for Capco's Covent Garden assets and a wholly owned subsidiary of Capco, has signed an agreement with five US institutional investors for a private placement of £150 million 10 and 12 year senior unsecured notes.\nThe issue consists of two tranches: £75 million 3.63% Senior Notes due 2024 and £75 million 3.68% Senior Notes due 2026. Closing and funding of the transaction will occur in December. The proceeds will be used to repay bank debt and for general corporate purposes.\nThe Royal Bank of Scotland plc acted as sole placement agent for the transaction.\nSoumen Das, Finance Director of Capco, commented: \"We are delighted with our debut US Private Placement issue. The transaction enhances the unsecured platform at Covent Garden which was established earlier this year, extending the debt maturity profile and the already strong liquidity position through a new source of long-term funding at attractive, fixed-rate coupons.\"\n \n-ENDS-\n \nEnquiries \n \nCapital & Counties Properties PLC:\nSarah Hagan, Director of Communications +44 (0)20 3214 9185\nMichelle McGrath, Head of Investor Relations +44 (0)20 7297 6093\n \nPublic Relations:\nUK: Hudson Sandler, Michael Sandler, Wendy Baker +44 (0)20 7796 4133\nSA: Instinctif, Frederic Cornet &nb...