NatEx launches £225million bond issue

NatEx launches £225million bond issue NatEx launches £225million bond issue
National Express has launched a £225million ten-year bond issue. The proceeds will be used to repay part of the group’s bank borrowings. It follows a £350million seven-year bond issue in January. Jez Maiden, NatEx group finance director, says:  “The successful launch of our ten-year bond has allowed us to refinance the majority of our 2011 bank debt ahead of schedule.

“Leading bond investors have continued to be strongly supportive of National Express, despite uncertain credit markets, and we have the long term capital structure in place to deliver opportunities across the group.”