London Stock Exchange Readies Jumbo Three-Currency Bond Offering
The exchange seeks to offer U.S. debt with maturities ranging from three to 20 years, euro notes due in four to 12 years.
(Bloomberg) -- London Stock Exchange Group Plc plans to offer bonds in dollars, euros and sterling in its first foray into international debt markets since 2018.
The company hired Barclays Plc, Bank of America Corp, Citigroup Inc. and HSBC Holdings Plc as global co-ordinators to arrange calls with bond investors on Wednesday, according to information from a person familiar with the matter, who asked not to be identified because they’re not authorized to speak about it.
The exchange seeks to offer U.S. debt with maturities ranging from three to 20 years, euro notes due in four to 12 years, and nine-year sterling notes, the person said. The group priced 500 million euros ($593 million) of nine-year notes in its latest bond offering that took place in November 2018.
The stock exchange completed a $27 billion purchase of financial-data provider Refinitiv this year, starting a new era in which most of its revenue will come from data. Last month it agreed a $6 billion package of mixed-currency bank loans to refinance debt following the acquisition. In early March the group said it would spend more on its integration with Refinitiv in 2021.
A company spokesperson declined to comment when reached by Bloomberg News by phone.
The parent company of Bloomberg News competes with Refinitiv to provide financial news, data and information.
©2021 Bloomberg L.P.