Future PLC (LSE:FUTR) has launched a debut sterling-denominated unsecured bond worth £300 million.
The five-year bond matures in 2030 and carries a coupon of 6.75%, with settlement expected on 10 July 2025. It is rated BB+ by S&P and Ba2 by Moody’s. And, guaranteed by certain subsidiaries and will trade on the International Securities Market.
Proceeds from the bond will be used for general corporate purposes, including refinancing the Export Development Guarantee facility and repaying amounts drawn from the revolving credit facilities.
“We are delighted by the response from investors to our inaugural bond issuance, which enhances our access to debt markets, lengthens our maturity profile and provides long-term financing for the business that aligns with our capital allocation policy," said Future CFO Sharjeel Suleman.
“The competitive pricing demonstrates the strength of our business.”