Stobart Group Limited Retail Bond Issue (0345S)
26 Novembre 2012 - 5:13PM
UK Regulatory
TIDMSTOB
RNS Number : 0345S
Stobart Group Limited
26 November 2012
26 November 2012
Stobart Group Limited ("Stobart" or "the Company")
Retail Bond Issue
On 13 November, Stobart announced that it intended to explore
the retail bond market with the offering of a 5.5% per annum fixed
rate six year Sterling bond.
The board of Stobart had considered the issue of a retail bond
as perhaps a useful mix to its funding. However, in the light of
the entry to the market in the last weeks of larger bond issuers at
higher coupon pricing, the board of Stobart has decided not to
proceed with a bond issue.
Stobart Chief Financial Officer, Ben Whawell, said: "We will
keep under review the possibility of issuing a retail bond in the
future, as we see it as a potential attractive funding option, but
only when we feel the cost of the bond to the Company, its
attractiveness to investors and its liquidity characteristics are
in the right alignment."
- ends -
Enquiries:
On behalf of Stobart:
James Andrew
Influence 07545 505 058 or james@influenceltd.com
David Bick/Mark Longson
Square1 Consulting 0207 929 5599 or mark.longson@square1consulting.co.uk
About Stobart
Stobart is listed on the London Stock Exchange in the FTSE 250
(LSE:STOB). With over 6,600 employees operating from more than 50
sites across the UK and Europe, Stobart is a UK front-runner in the
multimodal logistics, warehousing, civil engineering, rail
infrastructure and biomass fuel sectors. At the core of the Group
is the Transport and Distribution division, incorporating Eddie
Stobart - the iconic name behind a huge road haulage fleet
totalling some 2,500 vehicles, over 4,000 trailers and over seven
million square feet of warehousing. Stobart Estates, Stobart
Infrastructure and Civils, Stobart Air and Stobart Biomass
divisions complete the Group's business structure. See:
www.stobartgroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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