Jardine Lloyd Thompson completes issue of private placement loan notes

Jardine Lloyd Thompson Group (JLT), an international group of risk specialists and employee benefits consultants, has announced the completion of a 250m dollar issue of private placement loan notes with institutional investors.

Jardine Lloyd Thompson Group (JLT), an international group of risk specialists and employee benefits consultants, has announced the completion of a 250m dollar issue of private placement loan notes with institutional investors.

The proceeds of the placement, which was "significantly oversubscribed", will be used to refinance existing shorter term borrowings under the group's revolving credit facilities with its relationship banks.

The firm said the notes were issued by its wholly-owned subsidiary, JIB Group, mainly to existing investors and consist of $40m seven year notes with a coupon of 3.21%, $140m 10-year notes with a coupon of 3.78%, and $70m 12-year notes with a coupon of 3.93%.

Michael Reynolds, Group Finance Director said: 'We are delighted with the success of this transaction and with the positive response from our investors, which reflects the continued strength of JLT's business and credit profile.

"This second private placement issue further demonstrates the confidence of our debt investors in JLT and secures additional committed longer-term funding for the Group. This provides additional headroom and flexibility to support our ongoing growth as we continue to implement our strategy."

The share price dipped 0.51% to 783p by 08:34.

NR

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
Will a second wave of Covid lead to another stockmarket crash?
Stockmarkets

Will a second wave of Covid lead to another stockmarket crash?

Can we expect to see another lockdown like in March, and what will that mean for your money? John Stepek explains.
18 Sep 2020
Central banks want politicians to take charge – but what will they do?
US Economy

Central banks want politicians to take charge – but what will they do?

The US Federal Reserve has come to the end of the road in terms of what it can do to accelerate any recovery, says John Stepek. It's over to the polit…
17 Sep 2020