By Lisa Kerner
Charlotte, N.C., Jan. 20 – Extra MSA Group completed a £220 million private bond issue on Dec. 23 on one of its portfolios containing nine Motorway Service Area assets.
The bond has a 10-year term and a fixed annual coupon of less than 3.7%, according to a news release.
The bonds were placed with a consortium of long-term institutional investors that included Rothesay Life Ltd., Dongbu Insurance and Dongbu Asset Management through Aalto Invest LLP.
Proceeds were used to refinance existing bank funding, return funds to the equity holders and support further growth of the business.
RBS Private Placements acted on behalf of Extra MSA.
Extra MSA is an asset manager located in Lincoln, England. It is majority owned by Evergreen, an investment partnership managed by London-based M3 Capital Partners.
| Issuer: | Extra MSA Group
|
| Issue: | Bond
|
| Amount: | £220 million
|
| Coupon: | Less than 3.7%
|
| Maturity: | 10 years
|
| Settlement date: | Dec. 23
|
| Purchasers: | Rothesay Life Ltd., Dongbu Insurance and Dongbu Asset Management through Aalto Invest LLP
|
| Distribution: | Private placement
|
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