Rentokil raises funds

Rentokil Initial, the laundry and pest control conglomerate, is to raise half a billion euros through a bond issue.

The bonds will carry a coupon of 3.375% and will have a life-span of seven years.

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Jeremy Townsend, Chief Financial Officer of Rentokil Initial, said the issue "secures a significant element of our debt at a coupon of 3.375% and extends our maturity profile."

Shares in Rentokil were little changed on the news, which was flagged in the company's interim results in August.

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