IN BRIEF: Babcock International issues GBP250 million 5-year bonds
Babcock International Group PLC - London-based aerospace, defence and nuclear engineering - Announces the issue of GBP250 million of five-year bonds carrying fixed coupon of 5.125%, the group's first bond issue for seven years, to refinance the GBP300 million bond maturing in October. "Babcock's strong proposition, fundamentals and balance sheet, combined with leading market positioning in defence and nuclear, has led to a high level of demand, allowing us to price on attractive terms," it says. Proceeds will be used for general corporate purposes, including ongoing investment to support and drive growth.
Current stock price: 1,026.00 pence
12-month change: down 4.1%
By Jeremy Cutler, Alliance News reporter
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