26 November 2014
KIER GROUP PLC
SUCCESSFUL COMPLETION OF US PRIVATE PLACEMENT
Kier Group plc (Kier), a leading property, residential, construction and services group, is pleased to announce that it has successfully raised £120m via the US private placement market.
The placement comprises both sterling and dollar notes, with maturities of between 7 and 10 years and a blended interest rate of approximately 4.5%.
Haydn Mursell, Chief Executive of Kier, said: "We are delighted with the strong support shown by investors. Kier has used the US private placement market since 2003 to diversify the sources and maturities of its debt funding.
With a significant proportion of our debt now at a fixed rate and committed for at least the next five years, we have successfully reduced our exposure to anyincrease in interest rates over the longer-term."
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Enquiries
Kier
Press office +44 (0)1767 355 903
Finsbury
Faeth Birch/Daniela Fleischmann +44 (0)20 7251 3801
