Atkins taps US fixed-interest market

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."

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.