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Prices & Quotes - UK Markets - Serco Group (SRP)

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Share Price:
Up 121.50p
Change Today:
3.10p
Market Cap:
1,498.56m
Sector:
Support Services

Serco issues $200m of US private placement notes

By Josh White

Date: Friday 09 Oct 2020

LONDON (ShareCast) - (Sharecast News) - Serco has issued $200m (154m) of US private placement loan notes, it announced on Friday.
The FTSE 250 company said the notes have maturities of five, seven, 10 and 12 years, with a weighted average maturity of nearly eight years.

It said the financing was completed in advance of existing US private placement debt maturing in 2021.

The average interest rate on the new loan notes was fixed at 3.6%, which compared to a blended rate of 5.3% for the existing notes.

"A strong capital structure is essential in providing a base for the ongoing execution of our strategy," the Serco board said in its statement.

"We are therefore pleased to be able to secure long term debt at attractive interest rates.

"This is the first time Serco has accessed the US private placement market in more than seven years, and was possible due to our low financial leverage and resilient business model."

At 1248 BST, shares in Serco Group were down 0.39% at 127.5p.

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Serco Group Market Data

Currency UK Pounds
Price 121.50p
Change Today 3.10p
52 Week High 169.40p
52 Week Low 102.50p
Volume 2,922,125
Shares Issued 1,233.38m
Market Cap 1,498.56m

Performance Indicators

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What The Brokers Say

Strong Buy 13
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 13
strong_buy
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Serco Group Dividends

No dividends found

Trades for 03-Dec-2020

Time Volume / Share Price
16:35 1,363,990 @ 121.50p
16:29 1,184 @ 121.40p
16:29 1,176 @ 121.20p
16:29 324 @ 121.20p
16:29 585 @ 121.10p

Serco Group Key Personnel