REG - Inchcape PLC - Bond Offering

InchcapeAnnouncement

05/06/2023 07:00

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RNS Number : 5588B  Inchcape PLC  05 June 2023

 

 

 

05 June 2023

 

Inchcape plc announces pricing for new Bond Offering

 

Inchcape plc ("Inchcape"), the leading global automotive distributor,
announces that on 2(nd) June 2023 it priced its new £350m bond offering. The
bonds mature in June 2028, have a coupon of 6.5% and are expected to be rated
Baa2 by Moody's.

 

Proceeds from the offering will be used to repay the Group's existing Bridge
Facility, which helped to fund the acquisition of Derco, the initial term for
which expires at the end of FY 2023.

 

Adrian Lewis, Group CFO, commented:

"We are pleased with the success of our debut public bond issue, which ensures
that Inchcape can maintain a stable, long term capital structure to support
our future investment in growth. The high level of interest shown by investors
across Europe emphasizes their confidence in our differentiated market
position, our strong financial profile and our exciting growth prospects."

 

 

Contacts
 Inchcape plc:
 Rob Gurner                  Investor queries  +44 (0)7825 189088   investors@inchcape.com (mailto:investors@inchcape.com)
 Krishma Arora

 Media enquiries
 (Brunswick Group):
 Kate Holgate / Helen Smith                    +44 (0)20 7404 5959  inchcape@brunswickgroup.com (mailto:inchcape@brunswickgroup.com)

 
About Inchcape
Inchcape is the leading global automotive distributor, with operations across six continents. Through the unique expertise of our people, our suite of cutting-edge technology products, and our approach to advanced data analytics, we provide the platform for the world's leading mobility companies to accelerate their ambitions in markets where we and our partners want to succeed.
Our distribution platform connects the products of mobility companies with customers, and our responsibilities span from product planning and pricing, import and logistics, brand and marketing to operating digital sales, managing physical sales and aftermarket service channels.
Inchcape is driven by its purpose of 'bringing mobility to the world's communities, for today, for tomorrow and for the better'. We are committed to making a positive contribution to the communities in which we operate, for our people, for society and for the planet. The Group is headquartered in London and employs around 19,000 people globally.

www.inchcape.com (http://www.inchcape.com)

 

 

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