15/5/2006
BSS announces that it has raised $125m through a private placement of fixed rate guaranteed unsecured notes (the 'Notes') with a number of US financial institutions.
BSS experienced strong demand for the Notes and was pleased to raise significantly more than its original target.
The net proceeds will be used to pay down the majority of the Group's existing borrowings drawn under its £100m syndicated revolving debt facility.
$75m of the Notes are repayable in 7 years and have been swapped into sterling at variable rates and $50m are repayable in 10 years and have been swapped into sterling at fixed rates.
The private placement both diversifies our funding sources and extends the maturity of our debt profile at competitive rates.
The Royal Bank of Scotland advised on and acted as Agent on the transaction.
Enquiries:
Kevin Higginson, Group Finance Director
Gavin Slark, Chief Executive Officer
The BSS Group PLC
Tel: 0116 256 7006
Rachel Hirst
Andrew Jaques
Hogarth Partnership Limited
Tel: 0207 357 9477