Towergate confirms £396m bond offering rate

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

The notes offered by subsidiary, Towergate Finance plc, will bear interest at a floating rate of three-month LIBOR plus 550 basis points, reset quarterly.

The offering will be guaranteed on a senior secured basis by Towergate Holdings II and certain subsidiaries, including Towergate Insurance.

Group chief executive officer, Mark Hodges, said: "We're delighted to announce the successful pricing of the bond offering today.

"We have taken advantage of positive market feedback and significant demand

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to print this content. Please contact [email protected]nsuranceage.co.uk to find out more.

You are currently unable to copy this content. Please contact [email protected] to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]

To continue reading...

Sign In

Access Insurance Age

You are currently on corporate access.