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Name | Symbol | Market | Type |
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Optivo 5.25% | LSE:20SY | London | Bond |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
TIDM20SY
RNS Number : 9608K
Optivo Finance PLC
02 September 2019
Optivo Finance Plc: Sale of Retained Bonds
Optivo Finance plc
2 September 2019
Issuer: Optivo Finance plc
Date: 2 September 2019
Optivo Finance plc
(the "Issuer")
(Incorporated with limited liability in England and Wales
with registration number 07933814)
Notice of sale of Retained Bonds
Optivo Finance plc 3.283% Secured Bonds due 2048
ISIN: XS1787409033, Common Code: 178740903
(the "Bonds")
The Issuer has today sold GBP75,000,000 in principal amount of its Bonds.
On 22 March 2018 the Issuer issued GBP250,000,000 in principal amount of the Bonds, on the basis of a prospectus dated 20 March 2018 (the "Prospectus"). The Issuer immediately repurchased GBP100,000,000 in principal amount of the Bonds (the "Retained Bonds").
On 25 April 2019 the Issuer sold GBP25,000,000 Retained Bonds.
The GBP75,000,000 Bonds sold today were Retained Bonds.
Following the sale, the aggregate outstanding principal amount of the Bonds in issue remains GBP250,000,000, of which none are held by or on behalf of the Issuer.
Note: Please refer to the Prospectus for selling restrictions in respect of the Bonds.
On 28(th) August Moody's Investor Services affirmed the Issuer's A2 rating but changed the outlook from stable to negative. A refreshed investor presentation is available on Optivo's website: https://www.optivo.org.uk/investors/investor-presentations.aspx. In response to the change in outlook Optivo CFO Sarah Smith said:
"The only substantive change to Optivo's strategic plan since merger in May 2017 has been to de-risk - by reducing our exposure to market sales activity. We have the same development ambition and the same financial rules in place to protect the business.
We're pleased Moody's have noted our strong financial policies in place to manage risk. Our priority is to maintain the confidence of investors, whose support we need to deliver our social housing investment programme.
It's vital we are able to fund our investment programme. We rely on dialogue with our investors to drive our decision making around future development ambitions and the impact of this on our credit quality."
Contact for more information
Tariq Kazi
Head of Treasury
Email: Tariq.Kazi@optivo.org.uk
Phone: 020 8036 2293
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
September 02, 2019 12:06 ET (16:06 GMT)
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