logo-loader
viewSenior Plc

Senior secures $120 million through loan notes

car_350_48edfbc0d9880.jpg
Senior (LSE: SNR), the FTSE 250 manufacturing group, announced that it had issued $120 million of new loan notes through three tranches of loan notes. The new loan notes carry a weighted average fixed coupon rate of 6.77% per annum.

Senior said it would use the new funds to repay $75 million of loan notes which mature on 22 October 2008, and to reduce the level of borrowings under the Group's existing £80m revolving credit facility. 

At the end of September 2008, the Group had net debt of £130m.

Mark Rollins, Group Chief Executive, commented:  “Given the ongoing uncertainty in the financial markets, it is pleasing to report that the new facility secures the Group's funding requirements for the foreseeable future.  Senior remains strongly cash generative”.

Quick facts: Senior Plc

Price: 176 GBX

LSE:SNR
Market: LSE
Market Cap: £7.38 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: ROBO Global senior research analyst reveals healthcare tech...

ROBO Global senior research analyst Nina Deka tells Proactive the index, advisory, and research company has recently launched its ROBO Global Healthcare Technology and Innovation ETF (NYSE:HTEC), which consists of 80 stocks across 9 subsectors in 15 countries. Deka says among the companies...

2 hours, 36 minutes ago

RNS

Holding(s) in Company

2 weeks, 1 day ago

Holding(s) in Company

on 09/16/2019

Holding(s) in Company

on 09/13/2019

Holding(s) in Company

on 09/11/2019

Half-year Report

on 08/05/2019

12 min read