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England’s Saga to offer £250 million fixed-rate guaranteed bonds
Chicago, June 22 – Saga plc announced its intention to offer £250 million of new fixed-rate guaranteed bonds (B1/B), according to a news release.
Barclays, HSBC Bank plc, Mizuho International plc and NatWest Markets plc will be carrying out roadshows for the proposed offering.
The notes will be guaranteed by Saga Mid Co Ltd. and Saga Services Ltd.
The new notes are part of a number of financing transactions from the company including a tender offer, the repayment of a term loan and amendments to the covenants in its existing revolving credit facilities.
The new notes will pay for the tender offer and will be used to repay the term loan.
The issuer is a Kent, England-based provider of products and services for people aged 50 and over.
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