New 9 Year Bond Issue

RNS Number : 3375Z

Scottish & Southern Energy PLC

18 September 2009

 



NEW 9 YEAR BOND ISSUE

Scottish and Southern Energy plc ('SSE') has today issued a 9 year, £500m sterling bond with a coupon of 5%.  This takes to £2.9bn the total funding which SSE has secured since July 2008, comprising new bonds and loans with an average rate of interest of 6.17%; and proceeds from the placing of 42 million new ordinary shares in January 2009.

Gregor Alexander, Finance Director of SSE, said: 'We retain a flexible approach to financing investment, and consider all opportunities like this bond to help us maintain our financial strength for the long-term.'

 

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