Howden confirms $703m bond raise
Howden has confirmed its latest fund raise to bolster funding available for future growth investments.
The broker detailed that in a private offering, $690m (£509.8m) has been added to $500m of existing senior notes that run to 2032.
With the bonds being issued at a premium, the gross proceeds reached $703m.
The firm detailed that the transaction was oversubscribed and the proceeds will “primarily be used to fund identified growth opportunities in the US and transformation projects at group level”.
Howden added that its ratings of B2 Stable (Moody’s) and B Stable (S&P) were reaffirmed in January
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