38LT Libra (long) 38

TIDM38LT

RNS Number : 5418M

Libra (Longhurst Group)Treasury PLC

30 April 2018

This announcement contains inside information

Libra (Longhurst Group) Treasury plc

Intended Bond issue by Libra (Longhurst Group) Treasury No 2 plc

Libra (Longhurst Group) Treasury plc is a wholly owned subsidiary of Longhurst Group Limited incorporated in May 2012.

Libra ( Longhurst Group) Treasury No 2 plc (the issuer) is also a wholly owned subsidiary of Longhurst Group Limited incorporated in March 2018 as a treasury vehicle to issue new debt for the Group.

The proposed bond issuance of GBP250 million total will be comprised of GBP150 million of bonds with GBP100 million of bonds retained by the issuer for future re-sale.

The Borrowers will be the asset-holding registered providers of social housing in the Longhurst Group, with the initial issuance secured by pledge on a portfolio of social housing properties owned by the Borrowers, Longhurst & Havelok Homes Limited, Spire Homes (LG) Limited, Friendship Care and Housing Limited, and Axiom Housing Association Limited as per the Loan Agreement with the Issuer.

Moody's Public Sector Europe (MPSE) has today assigned a provisional (P)A3 debt rating to Libra (Longhurst Group) Treasury No 2 Plc's (the issuer) anticipated GBP250 million long-dated senior secured bond issuance, with a stable outlook.

The provisional (P)A3 debt rating assigned to the issuer's bond issuance of GBP250 million is derived from the A3 issuer rating of Longhurst Group Ltd (Longhurst Group). The issuer is a wholly owned subsidiary of Longhurst Group, an English housing association. The issuer was formed for the purpose of issuing debt to be on-lent to certain entities within Longhurst Group. Proceeds from the bond will be used to refinance bank facilities and fund the group's growth strategy.

Robert Griffiths

Deputy Chief Executive/Chief Financial Officer

Longhurst Group

Leverett House

Gilbert Drive

Boston

Lincolnshire

England

PE21 7TQ

For media enquiries, please contact:

Jon Reeves, Press and PR Manager

Longhurst Group 0345 30 90 700

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCWGURCCUPRURU

(END) Dow Jones Newswires

April 30, 2018 04:51 ET (08:51 GMT)

Libra (long) 38 (LSE:38LT)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Libra (long) 38 (LSE:38LT)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024