Helical Bar offers senior bonds to repay loans

10th Jun 2014 13:05

Helical Bar is offering £85m of senior, unsecured convertible bonds which are due in 2019, the majority of the proceeds to be used to repay its revolving credit facilities. The rest of the proceeds will be left available for it to use to provide funding for its development pipeline and, upon identifying suitable opportunities, to add to the group's investment portfolio. The bonds carry a coupon of between 4% and 4.50% per annum payable semi-annually in arrear. Shares in the group had declined 18.79% to 3.35p by midday. NR