SSE Successfully Launches New Long 8 Year Bond Issue
OREANDA-NEWS. SSE plc (“SSE”) has successfully launched a long 8 year, €500m euro bond maturing February 2022 with a coupon of 2.375 per cent and an all-in funding cost of 3.564% once swapped to Sterling.
In the last 12 months SSE has issued a 7 year, €600m euro bond, drawn down ?650m floating rate bank term loans with 8 year (?150m) and 1 year (?500m) maturities and increased committed facilities from ?1.0bn to ?1.5bn while extending the maturity to 2018.
Gregor Alexander, Finance Director of SSE, said: “In line with our proactive approach to financing investment, we are pleased that this attractively priced issue enables us to capitalise on current low interest rates and SSE's strong market rating to secure funding at a very low cost. This is consistent with our commitment to maintaining a strong balance sheet and sustaining our financial strength for the long term.”