REG - Assoc.British Foods - Issue of Debut Public Bond

Associated British FoodsAnnouncement

10/02/2022 07:00

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RNS Number : 2182B  Associated British Foods PLC  10 February 2022

 

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STATES OF AMERICA OR THE DISTRICT OF COLUMBIA (the UNITED STATES) OR IN OR
INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR
DISTRIBUTE THIS ANNOUNCEMENT.

 

ISSUE OF DEBUT PUBLIC BOND

 

10 February 2022

 

Associated British Foods plc is pleased to announce the successful launch of
its inaugural public bond, £400m, 2.5 per cent, due 2034. The bonds are
expected to be rated 'A' by S&P Global Ratings. The bonds will diversify
the Group's sources of funding and extend the duration of its borrowings, and
are being issued ahead of the maturity of its remaining Private Placement
notes.

 

ABF's financial leverage and liquidity policies underpin a commitment to
manage the Group's balance sheet to ensure long-term financial stability.
These include a financial leverage policy of total net debt to Adjusted EBITDA
of well under 1.5 times whilst also holding substantial net cash balances.

 

John Bason, Finance Director, said:

 

"We are delighted to announce ABF's inaugural public bond issue. These bonds
will diversify the source of funding for the Group. They will enhance our
liquidity and support the continued investment for growth in our businesses."

 

 

 For further information please contact:
 Associated British Foods:
 John Bason, Finance Director
 Tel: 020 7399 6545

 Citigate Dewe Rogerson:
 Tel: 020 7638 9571
 Chris Barrie
 Tel: 07968 727289
 Jos Bieneman
 Tel: 07834 336650

 

 

DISCLAIMER

 

This announcement does not constitute an offering of the securities described
herein (the "Notes") for sale in the United States.  This is not for
distribution in the United States.  The Notes have not been, and will not be,
registered under the United States Securities Act of 1933, as amended (the
"Securities Act") or under any relevant securities laws of any state or other
jurisdiction of the United States, and are subject to U.S. tax law
requirements.  Subject to certain exceptions, the Notes may not be offered,
sold or delivered within the United States or to, or for the account or
benefit of U.S. persons, as such terms are defined in Regulation S under the
Securities Act.  There will be no public offering of the Notes in the United
States.

 

Under no circumstances shall this announcement constitute an offer to sell or
the solicitation of an offer to buy any Notes in any jurisdiction where it is
unlawful to do so. Recipients of this announcement who intend to subscribe for
or purchase the Notes are reminded that any subscription or purchase may only
be made on the basis of the information contained in the final prospectus
relating to the Notes.

 

 

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