REG - Future PLC - Sterling unsecured bond issue

FutureAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250704:nRSD6955Pa&default-theme=true

RNS Number : 6955P  Future PLC  04 July 2025

3rd July 2025

Future plc

£300 million debut sterling unsecured bond

 

 

 

 

Future plc (LSE: FUTR; "Future" or "the Group"), the global platform for
specialist media, today announces the successful launch and pricing of its
debut sterling denominated £300 million 5 year unsecured bond ("Bond"),
maturing in 2030 and paying a coupon of 6.75%. Settlement is expected to occur
on 10 July 2025.

 

S&P and Moody's have assigned BB+ and Ba2 ratings respectively to the
Bond, in line with their issuer ratings for Future.  The Bond is
unconditionally and irrevocably guaranteed by certain subsidiaries of Future
and will be admitted to trading on the International Securities Market of the
London Stock Exchange plc.

 

The net proceeds of the Bond will be used for general corporate purposes,
including to refinance the Group's Export Development Guarantee facility and
to repay amounts drawn under the Group's revolving credit facilities ("RCF").

 

HSBC Bank plc and NatWest Markets Plc acted as Joint Global Coordinators and
Joint Active Bookrunners, Barclays Bank PLC and Citigroup Global Markets
Limited as Joint Active Bookrunners and ABN AMRO Bank N.V., J.P. Morgan
Securities plc and MUFG Securities EMEA plc as Passive Bookrunners. Rothschild
& Co advised on the transaction.

 

Sharjeel Suleman, Chief Financial Officer at Future, said: "We are delighted
by the response from investors to our inaugural bond issuance, which enhances
our access to debt markets, lengthens our maturity profile and provides
long-term financing for the business that aligns with our capital allocation
policy. The competitive pricing demonstrates the strength of our business."

 

The Group also announces the successful refinancing of its RCF. The new £300
million facility, issued on substantially the same terms as the existing
facility, has a tenor of 4 years with two 1-year extension options. All
counterparties to the Bond also supported the Group with the RCF.

 

Following the completion of both facilities, the Group's debt maturities are
now 2029 and 2030.

 

This announcement does not constitute or form part of any offer or any
solicitation to purchase nor shall it, or the fact of its distribution, form
the basis of, or be relied on in any purchase. The distribution of this
announcement and any subsequent offer of securities may be restricted by law
in certain jurisdictions and persons receiving this announcement or any
subsequent offer should inform themselves about and observe any such
restriction. Failure to comply with such restrictions may violate securities
laws of any such jurisdiction.

 

Enquiries

 

Future plc

Kevin Li Ying, Chief Executive Officer                +44
(0)1225 442244

Sharjeel Suleman, Chief Financial Officer

David Everett, Treasury
Director                         +44 (0)7920476045

 

 

 

Legal Entity Identifier (LEI): 213800K2581YRLEXV353

 

About Future

We are the platform for creating and distributing trusted, specialist content,
to build engaged and valuable global communities. We operate c.200 brands in
diversified content verticals, with multiple market leading positions and
three core monetisation frameworks: advertising, eCommerce affiliate and
direct consumer monetisation (subscriptions and newstrade magazine sale). Our
content is published and distributed through a range of formats including
websites, email newsletters, videos, magazines and live events. The successful
execution of our strategy is focused on three pillars: grow engaged audience,
diversify and grow revenue per user and optimise the portfolio.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEAKXDESSSEFA