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Sun March 07 2021

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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%.

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