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Cabot Credit Management places £265million high yield bond

Cabot Credit Management places £265million high yield bond

5th November 2012

Cabot Credit Management today announced that it has placed a £265 million high yield bond, with a 2019 maturity and an annual interest coupon of 10.365%. Part of the proceeds of the issue have been used to refinance existing debt.

JP Morgan Chase & Co led the transaction and Citi, RBS and Lloyds Banking Group acted as joint bookrunners.

Glen Crawford, Group Managing Director of Cabot Credit Management, said: “We are delighted to have completed our first bond issue. This is an important strategic step in development of the Group’s funding structure. It provides increased long-term liquidity more aligned to our asset base, as well as enhanced flexibility at a time of unprecedented market opportunities.”

In March 2012 the Lowell Group announced it had placed a £200 million high yield bond, with a 2019 maturity and an annual interest coupon of 10.75%.


For further information, please contact:
Becky Cimelli
PR Manager, Cabot Credit Management
Tel: +44 (0) 7780 495082
Email: bcimelli@cabotfinancial.com

 

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