S&P rates LSEG notes A

S&P said it assigned its A issue rating to multiple tranches of U.S. dollar-, euro-, and sterling-denominated senior unsecured notes to be issued by London Stock Exchange Group plc, Lsega Financing plc and LSEG Netherlands BV.

London Stock Exchange Group will guarantee the notes sold by Lsega and LSEG Netherlands.

“The debt issuance is leverage neutral as the group will use the proceeds to partially refinance the roughly £8.5 billion of existing drawings from its bridge facility. The group entered the bridge to fully refinance existing debt at Refinitiv, the global data services and market operator LSEG acquired in January 2021. We expect the remainder of the bridge to be paid down at close of LSEG’s sale of Borsa Italiana to Euronext NV (A-/watch neg/A-2) for €4.325 billion, which is expected in the second quarter of 2021,” S&P said in a press release.

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