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India

Stobart Group Announces Placing Of £53.075 Mln Secured Guaranteed Exchangeable Bonds By Unit


Friday, 3 May 2019 

May 3 (Reuters) - Stobart Group Ltd ::PRICING OF EXCHANGEABLE BOND.ANNOUNCES PLACING OF £53.075 MILLION OF SECURED GUARANTEED EXCHANGEABLE BONDS BY ITS WHOLLY OWNED SUBSIDIARY STOBART FINANCE PLC.BONDS WILL HAVE A FIVE YEAR MATURITY AND WILL BE UNCONDITIONALLY AND IRREVOCABLY GUARANTEED BY COMPANY.NET PROCEEDS OF BONDS ARE INTENDED TO BE USED TO SUPPORT COMPANY'S GROWTH PLANS FOR AVIATION AND ENERGY.BONDS TO BE ISSUED AT PAR AMOUNTS OF £100,000 AND INTEGRAL MULTIPLES OF £1,000 IN EXCESS THEREOF, AND WILL BEAR INTEREST AT 2.75% PER ANNUM. 

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