0 £0.00
This item was added to your basket

Dear visitor,
You are viewing 1 of your 1 free articles


We’ve made wider, important changes to our print and online content to enhance the value of exclusive, insightful, discerning content we create every day. Support valuable editorial content by becoming a member of our Credit Club - register for free or choose a paid plan.

Register now or Login

Cabot extends funding maturities with €400m bond

Debt purchaser Cabot has issued a €400m (£356.3m) senior secured floating rate notes bond which is due to mature in 2024.

The bond has a coupon of 6.375 percent, plus a three-month EURIBOR, subject to a zero percent floor.

 

It was issued through Cabot’s 100 percent indirectly-owned subsidiary, Cabot Financial (Luxembourg) II SA. The proceeds of the offering will be used, along with cash on hand, to repay in full an £80m bond due in 2021 and pay accrued interest.

 

It will also be used to repay in full a separate €310m senior secured floating rate notes bond, also due in 2021, and pay related premium and accrued interest, fees, expenses and commissions.

 

Cabot said strong demand we were able to upsize the deal from €310m to €400m.

 

It added the move does not change its overall liquidity position, but has extended its overall debt maturity, such that it now has no bonds due before 2023.

LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX

READ NEXT

Treasury reveals final Breathing Space plans

Treasury reveals final Breathing Space plans

Government consults on powers to fine firms that “exploit” consumer loyalty

Government consults on powers to fine firms that “exploit” consumer loyalty

Fraud continues year-on-year rise, Cifas finds

Fraud continues year-on-year rise, Cifas finds

Upcoming events

Car Finance Conference

Car Finance Awards

Collections & Vulnerability Summit

Credit Strategy
LinkedIn page

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace.
@ Copyright Shard Media Group