Rentokil prices EUR 800m bond at 'lowest ever' coupon
Rentokil Initial
425.00p
16:39 23/04/24
-0.35%
-1.50p
Rentokil Initial confirmed the issue of a €600m (£545.29m) eight-year bond on Thursday.
FTSE 100
8,044.81
16:49 23/04/24
n/a
n/a
FTSE 350
4,424.29
16:59 23/04/24
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FTSE All-Share
4,378.75
17:14 23/04/24
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Support Services
10,639.30
16:59 23/04/24
0.53%
55.64
The FTSE 100 consumer products giant said the bond was priced at 0.5%, making for its lowest ever coupon.
It said the issue would refinance the €350m 3.25% bond which matures in October 2021, and would be used for general corporate purposes.
“The bond will be issued by Rentokil Initial, under the terms of its euro medium-term note programme,” the board said in its short statement.
At 0839 BST, shares in Rentokil Initial were up 0.11% at 528p.