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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Informa Plc | LSE:INF | London | Ordinary Share | GB00BMJ6DW54 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
6.40 | 0.81% | 800.80 | 801.80 | 802.20 | 804.60 | 795.40 | 800.20 | 1,780,904 | 16:35:29 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Periodical:pubg,pubg & Print | 3.28B | 419M | 0.2986 | 26.85 | 11.25B |
TIDMINF
RNS Number : 4937A
Informa PLC
29 September 2020
Informa LEI: 5493006VM2LKUPSEDU20
Informa PLC Press Release
29 September 2020
COVID-19 Action Plan Update
Stability and Security in Financing
Informa (LSE: INF.L), the Information Services, Advanced Learning, B2B Exhibitions and Events Group today announced an update to its COVID-19 Action Plan, providing stability and security in financing through the issue of GBP640m equivalent Euro Bonds.
-- Increased financing flexibility: Issue of GBP640m equivalent Euro bonds, with 5-year maturities, attractive 2.125% coupon and no financial covenants, following strong market demand for Informa credit; increases the Group's financing flexibility, with average debt maturity of 5.3 years, and combined with the repayment of US Private Placement notes lowers the Group's average cost of debt from 4.25% to 3.75%;
-- Investment Grade rating: Coinciding with the Bond issue, Informa's investment grade rating re-confirmed by both S&P and Moody's, reflecting robust subscriptions revenue, long-term strength of B2B brands and pro-active steps to reduce costs and increase liquidity in the face of significant COVID-19 disruption to physical events;
-- Stability and security in financing: Following bond issuance, the Group intends to renegotiate or repay US Private Placement notes, removing its point covenant and providing stability and security in financing.
Gareth Wright , Group Finance Director, Informa PLC, said: "As outlined in our recent Half-Year Results, through our COVID-19 Action Plan we are taking a series of actions to ensure the Stability and Security of the Informa Group through 2021 and beyond." He added: "Our Cost Management Programme, which has delivered GBP600m to date, combined with today's bond issue and the planned renegotiation or repayment of our US Private Placement Notes, will help secure positive monthly cash flows by January 2021 and provide long-term liquidity and financing flexibility." Enquiries Gareth Wright, Group Finance Director +44 (0) 20 7017 7096 Richard Garry, Group Treasurer +44 (0) 20 7017 7049 Richard Menzies-Gow, Director of IR & Communications +44 (0) 20 3377 3445 Tim Burt / Zoe Watt - Teneo +44 (0) 20 7240 2486 -------------------------------------- --------------------
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(END) Dow Jones Newswires
September 29, 2020 12:13 ET (16:13 GMT)
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