Serco prices $200m US private placement

By Silas Brown
30 Sep 2020

Serco has sold $200m of US private placements, according to market sources. The deal shows there is still muted support for UK support services, given the right credit and offer, after the sector fell out of favour with PP investors a few years ago.

Bank of America and Barclays arranged the deal, which had four tranches of five, seven, 10 and 12 years. A $50m October 2025 note was sold with a coupon of 3.27%. An $80m October 2027 tranche had a 3.55% coupon. A $37m October 2030 deal and a $33m ...

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