Cabot Credit Management places £100 million high yield bond
Cabot Credit Management today announced that it has placed a second high yield bond for £100 million, with a 2020 maturity and an annual interest coupon of 8.375%.
JP Morgan Chase & Co led the transaction with Lloyds TSB Bank acting as a joint bookrunner with DNB Markets, a part of DNB Bank ASA, acting as a co-manager.
Chris Ross Roberts, Group Chief Financial Officer, Cabot Credit Management, said: “We are delighted to have completed our second bond issue. With this additional funding it allows us to continue to grow our business and take advantage of the expanding opportunities in the market place. In the last 12 Months alone we have invested £171 million in acquiring portfolios.”
The first high yield bond was issued in September 2012 for £265 million, with a 2019 maturity and an annual interest coupon of 10.375%.
For further information, please contact:
PR Manager, Cabot Credit Management
Tel: +44 (0) 7780 495082