Bupa finalises securitisation

Posted on November 1st, by editor in Caring Times. No Comments

Bupa¹s £450 million re-financing programme has been completed. The company is using the cash raised largely to repay short term debts totalling £358 million and replace them with longer-term borrowing at fixed rates, which is expected to work out cheaper over time. The final debt will be repaid in 2027. The initiative has also raised new funds of more than £80 million. Bupa corporate finance director Julian Davies said the company¹s securitisation programme had fulfilled its aim of raising the full amount through the sale of bonds to financial institutions, including insurance companies, banks and pension funds. “There has been a lot of interest in this initiative and it has favourably boosted Bupa¹s profile in the City,” Mr Davies said. “It is widely seen by the financial sector as an interesting issue that has gone well. The intensive preparation work by Bupa in staging a series of 32 roadshows for potential investors clearly paid dividends. “Testament to the programme¹s success is the fact that Bupa

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