REG - Informa PLC - Informa Buys Back EUR 200m Eurobonds

InformaAnnouncement

08/09/2022 07:45

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RNS Number : 6875Y  Informa PLC  08 September 2022

Informa PLC Press Release

8 September 2022

Informa Buys Back €200m of Eurobonds

Successful Tender Offer Reinforces Commitment to Debt Reduction, Shareholder
Returns and Balance Sheet Strength

Informa (LSE: INF.L), the international Academic Markets, B2B Markets and
Digital Services Group today announced a successful tender offer for bonds
maturing in 2023, alongside the continuation of its £725m Share Buyback
Programme, as part of the ongoing 2021-2024 Growth Acceleration Plan II ("GAP
II").

Debt reduction: Successful tender for 2023 bonds

The Company confirms the successful completion of a tender offer to buy back a
portion of the €650m Eurobonds due to mature in July 2023. The Group bought
back the maximum aggregate principal amount of €200m.

Shareholder Returns: First £400m of £725m Share Buyback Programme completed

The Company also confirms the completion of the first £400m of its GAP II
Share Buyback Programme, with c.70m shares bought through Merrill Lynch
International since it commenced in February, at an average share price of
572p.

The Share Buyback Programme will continue through Informa's joint broker
Morgan Stanley, with a further £325m of the current commitment to go, taking
the Group into 2023.

Balance Sheet Strength: Full year leverage expected to be close to zero

The combination of improving revenue and profit growth, strong cashflow
generation and debt reduction gives the Group significant balance sheet
strength, with full year leverage, excluding leases and post recent
divestments and acquisitions, expected to be close to zero.

 Stephen A. Carter, Group Chief Executive, Informa PLC, said:

 "We are reducing gross debt while strengthening our balance sheet and that
 combined with our robust operating performance and cash generation, provides
 flexibility for further shareholder returns, reinvestment and expansion."

 

 Enquiries
 Stephen A. Carter, Group Chief Executive                  +44 (0) 20 8052 0400
 Gareth Wright, Finance Director                           +44 (0) 20 8052 0400
 Richard Menzies-Gow, Director of IR & Communications      +44 (0) 20 8052 2787
 Tim Burt / Simon Duke - Teneo                             +44 (0) 20 7240 2486

 

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