News Column

Interserve Completes USD350 Million Issue Of US Loan Notes

June 20, 2014

Rowena Harris-Doughty

LONDON (Alliance News) - Interserve PLC Friday said it has successfully completed the issue of USD350 million US private placement loan notes.

The support services and construction group said the loan notes have a weighted average maturity length of 10 years, and replace a bridging loan used to part-fund the completed acquisition of Initial Facilities from Rentokil Initial PLC.

"We are pleased with the response from US private placement investors, with the strong demand for Interserve's debt reflecting our growth prospects," said Finance Director Tim Haywood in a statement.

Interserve shares were up 2.1% at 597.00 pence Friday morning.

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Source: Alliance News