REG - SSE Plc - Issue of Capital Hybrid Securities <Origin Href="QuoteRef">SSE.L</Origin>

SSEAnnouncement

24/02/2015 17:20

RNS Number : 7705F
SSE PLC
24 February 2015
SSE PLC
ISSUE OF CAPITAL HYBRID SECURITIES
SSE plc has successfully launched an issue of capital hybrid securities, a financial instrument which is perpetual and subordinate to all senior creditors. The dual tranche issue compromises 750m and 600m with an all-in funding cost to SSE of 4.02% per annum. This compares to the 5.6% all-in funding cost of SSE's existing hybrid securities issued in 2010 and 2012 with issuer first call dates of 1 October 2015 and 1 October 2017 respectively.
Gregor Alexander, SSE's Finance Director, said "This latest hybrid issuance is a significant piece of funding for SSE and the intent is to use the proceeds to replace those existing hybrid securities with issuer first call dates on 1 October 2015. It complements our diverse range of attractively priced financing and demonstrates our ability to raise funds at competitive rates, while maintaining a strong balance sheet and remaining committed to our investment plans.

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