Bond Issue - Correction
Summary by AI BETAClose X
Bond Issue – correction
The previous announcement issued this afternoon included an incorrect date and the corrected announcement is below:
Whitbread Group PLC (‘Group’), has launched and priced a £300m bond with a maturity of 7 years. The bond was priced at a spread of 173 basis points over the reference gilt rate (the ‘New Bond’), subject to final legal documentation.
Concurrently with the pricing of the New Bond, the Group has entered into £100m of interest rate swaps to convert the fixed rate coupon into a floating rate of SONIA plus a margin. After this issue, the group’s weighted average cost of debt will be approximately 3.80%. This is expected to increase to approximately 4.50% after the Maturity of the £300m 2027 green bond.
The proceeds of the Notes will be used for the general corporate purposes of the Group, including the refinancing of existing debt.
The Notes are unsecured, contain no financial covenants and are expected to be rated BBB- by Fitch Ratings Limited, in line with the Group's current credit rating. The Notes are expected to be admitted to the FCA Official List and to trading on the Main Market of the London Stock Exchange on or about 19 November 2026.
For more information please contact:
Investor Relations - Whitbread investorrelations@whitbread.com
Peter Reynolds, Director of Investor Relations peter.reynolds@whitbread.com
Kirsten O’Reilly, Head of Investor Relations kirsten.oreilly@whitbread.com
Iain Strachan, Director Financial Reporting & Control iain.strachan@whitbread.com
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