Saga PLC plans £ 250m bond issue, tender offer and loan repayment



Ian Walker

Saga PLC said on Tuesday that it plans to raise £ 250 million ($ 348.4 million) through a bond issue, announce a tender offer for up to € 100 million ($ 119.2 million) of existing bonds and repay the € 70 million loan …

A UK-based provider of specialty products for people over 50 said all transactions to boost its finances were dependent on one another.

Saga said it has hired banks to conduct roadshows for the planned bond issue, which, if received, will be used to repay the existing loan and for general corporate purposes.

The company is also inviting the holders of its 3.375% bonds maturing in 2024 to tender up to £ 100 million in bonds.

The stock fell 4.20p, or 1%, at 07:16 GMT to 417.80p.

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