IG Group completes comprehensive debt refinancing

Online trading platform IG Group said on Friday it has successfully completed a comprehensive debt refinancing exercise and the implementation of a long-term funding structure.

IG has issued £300m worth of unsecured bonds due 2028 and agreed a new £300m committed revolving credit facility with an initial maturity of three years. The company said it has the ability to request an increase in the RCF size to £400m and to request two maturity extensions of one year each, all subject to bank approval.

IG's total available credit facilities have now risen from £375m to £600m, with the potential to rise to £700m if the new revolving credit facility is increased in size.

Chief financial officer Charlie Rozes said: "This comprehensive refinancing puts in place a long term funding structure that provides the Group with a balanced mix of senior debt arrangements with attractive maturities.

"This will enable the board to continue to pursue its value-enhancing strategic objectives with confidence, while at the same time managing our risks by strengthening our capital base and liquidity position. We welcome our bondholders as new stakeholders in the business, and are very grateful to our relationship banks for their continued support."