IG Group Finalises £300M Debt Refinancing Exercise
The FTSE 250-registered brokerage has completed a debt refinancing example to support its foresighted-term funding structure. The IG Group issued £300 million in senior notes bonds, rated BBB by Fitch Ratings, that will flow from in 2028. The move will enable the troupe to continue its global expansion, pursual the acquisition of tastytrade earlier this year.
Revolving Credit Facility
IG's £300 million revolving citation facility (RCF) has an initial maturity of three years. With that said, the company can request an additional £100 million, plus two maturity extensions of up to one year each. Refinancing likewise saw the brokerage firm come back and cancel its existing £125 million charge account credit facility and £250 million full term loan facilities.
The result of the practise will see Immune serum globulin's credit facilities leap from £375 million to £600 1000000, with an additive £100 million gettable via a RCF extension.
Important Financial Officer of IG Group, Charlie Rozes, commented: "This comprehensive refinancing puts in place a long-term funding construction that provides the Group with a self-balancing mix of senior debt arrangements with attractive maturities." Rozes added: "This will enable the Board to continue to pursue its note value-enhancing important objectives confidently, while at the same time managing our risks by strengthening our capital base and liquidity position."
About IG
IG is an award-winning online securities firm with more than 175,000 clients on its books. The UK-based broker offers trading on major stock indices, shares, currency pairs, CFDs, commodities, and propagate betting. Ig also offers a suite of ETFs, bonds, futures and rate of interest products.
Alongside the common MetaTrader 4 platform, Immune globuli hosts a progressive web application that is available happening desktop and wandering devices. The broker's own platform offers a sincere-time view of market prices and comes with a selection of clamant and pending order types. Immunoglobulin also provides later charting computer software, ProRealTime, which is home to 100 bailiwick indicators and 30 years of historical market information.
The FCA-regulated broker is a favourite among acrobatic traders. Its range of live accounts and competitive spreads ensures affordable access to popular financial markets, while the selection of instructive tools appeals to new investors.
Following the debt refinancing exercise, IG is well-positioned to service its expanding global customer base with much advanced trading services and investing features.
Sign away-up using the link below or head to our detailed review for more information.
Source: https://www.daytrading.com/ig-group-finalises-300m-debt-refinancing-exercise
Posted by: castillothount.blogspot.com
0 Response to "IG Group Finalises £300M Debt Refinancing Exercise"
Post a Comment