Construction News

Mon September 28 2020

Related Information

Kier bolsters its books

26 Nov 14 Kier Group has raised £120m via the US private placement market.

Kier chief executive Haydn Mursell, of Kier, said: "We are delighted with the strong support shown by investors. Kier has used the US private placement market since 2003 to diversify the sources and maturities of its debt funding. 

“With a significant proportion of our debt now at a fixed rate and committed for at least the next five years, we have successfully reduced our exposure to any increase in interest rates over the longer-term." 

The placement comprises both sterling and dollar notes, with maturities of between seven and 10 years and a blended interest rate of approximately 4.5%.

Got a story? Email news@theconstructionindex.co.uk

MPU
MPU

Click here to view more construction news »