National Express Group PLC Pricing of Bond (7839N)

TIDMNEX

RNS Number : 7839N

National Express Group PLC

28 October 2016

28 October 2016

National Express announces pricing of 7-year bond under the GBP1 billion Euro Medium Term Note Programme

National Express Group PLC ('National Express' or the 'Group') announces that it has priced the issue of a GBP400 million 2.5 per cent bond due 11 November 2023 (the 'Bond') under the GBP1,000,000,000 Euro Medium Term Note Programme. The Bond is expected to be rated Baa3 by Moody's and BBB- by Fitch. The joint bookrunners for the issue are Bank of America Merrill Lynch, Barclays, HSBC and Santander.

National Express intends to use the proceeds of the Bond for general funding purposes including the repayment of existing debt.

Commenting on the issue, Matthew Ashley, Group Finance Director, said:

"We are delighted by the success of this issue and by the strong support shown by bond investors in National Express Group".

Enquiries

 
 National Express Group 
  PLC 
 Matthew Ashley, Group 
  Finance Director              0121 460 8655 
 Louise Richardson, Investor 
  Relations Manager              07827 807766 
 
 Maitland 
 Rebecca Mitchell               020 7379 5151 
 

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October 28, 2016 10:53 ET (14:53 GMT)