EMI GROUP plc
US$180m Private Placement Financing
LONDON: 29 August 2002 - EMI Group plc ("EMI") is pleased to announce that it
has completed a private placement to a total value of US$180m Senior Notes.
This placing comprises US$155m seven year notes, repayable in 2009, and US$25m
10 year notes repayable in 2012, with three major US insurance companies and
The Notes were placed by The Royal Bank of Scotland plc.
Roger Faxon, Chief Financial Officer of EMI, commented: "This financing
completes the restructuring of EMI's debt into medium and long term facilities.
It provides us with an appropriate structure to support the continued
development of the Group, and demonstrates the confidence that the debt markets
have in EMI's management, strategy and long term prospects."
Nicholas Bamber, Director in the Private Placement Group at The Royal Bank of
Scotland, said: "This was a very successful private placement issue that was
materially oversubscribed from the initial target financing amount. We are
pleased that EMI has received such strong backing from the US private placement
market, providing further diversity to the Group's funding sources."
EMI Group plc
Amanda Conroy SVP, Corporate Communications +44 20 7667 3216
Siobhan Turner VP, Investor Relations +44 20 7667 3234