Atkins taps US fixed-interest market

published 14 May 2012

Design and engineering consultancy group WS Atkins has turned to the US fixed-interest market to raise cash to repay drawn funds under the group's existing banking facility and for general corporate purposes.

The firm placed $75m of notes carrying a coupon of 4.38% with a term of seven years, marking its entry into the US private placing market, which it described as, "an important step for Atkins as it seeks to broaden its sources of funding to support its future growth ambitions".

Heath Drewett, Group Finance Director, commented: "We are delighted to have secured this additional funding to support our longer term strategy. In particular, the issue offers increased diversity and an extended maturity profile for the group's debt."