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SSE Sse Plc

1,644.50
-13.50 (-0.81%)
Last Updated: 14:02:53
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Sse Plc LSE:SSE London Ordinary Share GB0007908733 ORD 50P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -13.50 -0.81% 1,644.50 1,644.00 1,645.00 1,670.50 1,637.50 1,668.00 465,350 14:02:53
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Electric Services 12.49B -60.6M -0.0555 -296.22 17.97B

SSE PLC NEW DUAL TRANCHE 5 AND 10 YEAR BOND ISSUE (1224J)

07/04/2020 5:15pm

UK Regulatory


Sse (LSE:SSE)
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From Mar 2019 to Mar 2024

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TIDMSSE

RNS Number : 1224J

SSE PLC

07 April 2020

SSE plc

NEW DUAL TRANCHE 5 AND 10 YEAR BOND ISSUE

SSE plc ("SSE") has successfully launched a EUR1.1bn 5 and 10 year dual tranche Euro bond with EUR600m maturing April 2025 and EUR500m maturing April 2030, with coupons of 1.25 per cent and 1.75 per cent respectively. Both tranches have been swapped to Sterling resulting in a funding cost of 2.4 per cent for the 5 year and 2.9 per cent for the 10 year.

Due to the strength of Sterling in the last week of March, net debt and hybrid capital is now expected to be around GBP10.5bn as at 31 March 2020, down from GBP10.7bn as stated in SSE's last financial update published on 27 March 2020.

Gregor Alexander, Finance Director of SSE, said: "In the past few weeks capital markets have been disrupted and extremely volatile due to Covid-19, resulting in SSE choosing to adapt its funding plans for 20/21. With bond markets recovering recently we have taken this window of opportunity to issue SSE's first dual tranche senior Euro bond. With Sterling equivalent proceeds of around GBP975m this issuance will significantly help cover our refinancing and funding requirements for the remainder of the year, as we continue our low carbon investment programme."

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

April 07, 2020 12:15 ET (16:15 GMT)

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