Sage, Newcastle software giant, in £350m debut bond

Newcastle-based software giant Sage Group plc announced that it has launched and successfully priced a debut bond offering of £350 million 1.625% notes due in February 2031.

“The offering is expected to settle on 25 February 2021 subject to the satisfaction of customary conditions,” said Sage.

“The notes issue extends the maturity of the group’s debt portfolio and diversifies its funding sources.

“Sage intends to use the proceeds to repay its existing indebtedness and for general corporate purposes.

“Sage has been rated BBB+ (stable) by S&P.

“Application will be made for the notes to be admitted to the official list of the Financial Conduct Authority and to be admitted to trading on the regulated market of the London Stock Exchange.

“The Joint Bookrunners were BofA Securities, J.P. Morgan and Lloyds Bank Corporate Markets.”

 

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.