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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 |
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.
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(END) Dow Jones Newswires
April 07, 2020 12:15 ET (16:15 GMT)
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