Information  X 
Enter a valid email address

Capita Group PLC (CPI)

  Print      Mail a friend       Annual reports

Monday 24 June, 2002

Capita Group PLC

Issue of Debt

Capita Group PLC
24 June 2002

24 June 2002

                          THE CAPITA GROUP PLC

         The Capita Group Plc issues £125,000,000 Equivalent Senior

                     Unsecured Notes due 2009/12

The Capita Group Plc ('Capita') is pleased to announce that it has today
completed a private placement of £125,000,000 equivalent of 7 and 10 year Senior
Notes with a group of UK and US insurance companies.  The Notes, which are
unsecured, are repayable in full in 2009 and 2012 and have been swapped into
floating rate Sterling.  The Group is not exposed to currency risk.

Gordon Hurst, Capita's Finance Director, commented:  'During the last two and a
half years the acquisitions we have made have been financed mainly from our
internal resources and short term borrowings.  For some time we have been
considering further strengthening the Group's financing capability by putting in
place some medium term debt to replace these short term borrowings and feel that
this is an opportune time to put this debt on to Capita's balance sheet at
attractive rates. We were delighted that the offer was four times oversubscribed
and the rates achieved were highly competitive.

'We continue our stated strategy of pursuing small bolt-on acquisitions.  Capita
remains a strongly cash generative company.  Indeed, over the past five years
our operating profit to cash conversion rate has averaged 113%.  We also foresee
no material change on working capital requirements going forward.'

The Royal Bank of Scotland plc was Sole Agent on the transaction.

                                    - Ends -

For further information:

The Capita Group Plc                               020 7799 1525

Gordon Hurst, Group Finance Director

Shona Nichols, Group Marketing Director

Capita Press Office                                020 7544 3141

Issued by Finsbury Group                           020 7251 3801

Morgan Bone

Mark Harris

Notes to editors:

The Capita Group Plc is a leading provider of integrated professional support
service solutions. The Group's service capabilities encompass customer services,
insurance services, human resource services, software services, systems and
strategic support and property services delivered to both public sector and
private organisations. With 16,000 people at over 160 UK sites, Capita is quoted
on the London Stock Exchange and is a FTSE 100 company with estimated revenues
for 2002 of £895 million. In November 2001, Capita was awarded the Management
Today Most Admired Business Services Company Award.

                      This information is provided by RNS
            The company news service from the London Stock Exchange