Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Rolls-Royce Holdings plc    RR.   GB00B63H8491

ROLLS-ROYCE HOLDINGS PLC

(RR.)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Rolls Royce : prices GBP2 billion-equivalent senior notes offering

10/16/2020 | 09:23am EST

Rolls-Royce Holdings plc (the ''Company' and together with its subsidiaries, the 'Group' or 'Rolls-Royce') announces that it has successfully priced an offering (the 'Bond Offering') of three tranches of senior unsecured notes denominated in US dollars, euros and sterling (collectively, the 'Notes') to raise gross proceeds of approximately GBP2 billion.

The Notes will be issued by Rolls-Royce plc and guaranteed by the Company.

The Bond Offering comprises:

USD 1,000 million1 aggregate principal amount of 5.750% Notes due 2027;

EUR 750 million2 aggregate principal amount of 4.625% Notes due 2026; and

GBP 545 million aggregate principal amount of 5.750% Notes due 2027.

On 1 October 2020, we announced our intention to raise gross proceeds of at least GBP1 billion through a bond offering, as part of a proposed GBP5 billion recapitalisation package to increase resilience, strengthen the balance sheet and support long-term strategy. Given the strong demand from investors for the Notes, we decided to increase the size of the offering of the Notes issued to approximately GBP2 billion equivalent.

The recapitalisation package also includes an approximately GBP2 billion fully underwritten rights issue (the 'Rights Issue') and commitments for a new two-year term loan facility of GBP1 billion. The combination of the proceeds from the Notes, the Rights Issue and the commitments for the new GBP1 billion term loan facility is expected to provide us with gross proceeds of approximately GBP5 billion.

As previously announced on 1 October, we have also received support in principle from UK Export Finance for an extension of its 80% guarantee to support a potential increase of up to GBP1 billion to our existing GBP2 billion five-year term loan facility. However, given the increase in the quantum of Notes being issued, we do not currently plan to progress this potential extension to our loan facility, while still having the option to do so at a later time if required.

The Bond Offering is expected to close on 21 October 2020 and the proceeds will be escrowed and will be available to Rolls-Royce upon successful completion of its Rights Issue.

1USD 1,000 million is equivalent to GBP 772 million. USD converted to GBP at 1.2953:1 based on the exchange rate on 14th October 2020 at 11.30am BST.

2EUR 750 million is equivalent to GBP 680 million. EUR converted to GBP at 1.1037:1 based on the exchange rate on 14th October 2020 at 11.30am BST.

IMPORTANT NOTICES

Certain statements made in this announcement are forward-looking statements. Such statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results expressed or implied in these forward-looking statements. Persons receiving this announcement should not place undue reliance on forward-looking statements. Unless otherwise required by applicable law, regulation or accounting standard, the Group does not undertake to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

This announcement is not an offer of securities for sale in the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the 'Securities Act'), and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. Any decision to invest in the Notes offered in the Offering must be made solely based on the information in the offering memorandum relating to the Notes.

This announcement is for informational purposes only and is directed only at persons who are: (a) persons in member states of the European Economic Area (the 'EEA') who are qualified investors (as defined in Regulation (EU) No. 2017/1129); (b) persons in the United Kingdom who are qualified investors and who are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order'); or (ii) persons falling within Article 49(2) (a) to (d) of the Order ('high net worth companies, unincorporated associations, etc.'); or (iii) persons to whom an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any senior secured notes may otherwise be lawfully communicated or cause to be communicated (all such persons in (a) and (b) together being referred to as 'relevant persons'). This announcement must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons.

(C) 2020 Electronic News Publishing, source ENP Newswire

All news about ROLLS-ROYCE HOLDINGS PLC
12:05pCLOSING THE GAP : The route to 100% aircraft...
PU
11/30ROLLS ROYCE : A new start – with SAF
PU
11/25ROLLS ROYCE : to supply Bibloc pressure transmitters to Hinkley Point C nuclear ..
AQ
11/25Pandemic Spurs U.K. Companies to Tap London Equity Market at Fastest Pace in ..
DJ
11/19Airbus, Boeing expected to turn to hybrid engine technology for new planes - ..
RE
11/19UK aviation regulator says working hard to mitigate Brexit risks
RE
11/19ROLLS-ROYCE : Goldman Sachs maintains a Buy rating
MD
11/18ROLLS ROYCE : How AI scales up IoT capability in turbofan jet...
PU
11/18Norwegian Air seeks bankruptcy protection under Irish law
RE
11/17ROLLS-ROYCE : JP Morgan reiterates its Sell rating
MD
More news
Financials
Sales 2020 11 050 M 14 837 M 14 837 M
Net income 2020 -2 940 M -3 948 M -3 948 M
Net Debt 2020 3 964 M 5 322 M 5 322 M
P/E ratio 2020 -1,11x
Yield 2020 -
Capitalization 9 366 M 12 494 M 12 576 M
EV / Sales 2020 1,21x
EV / Sales 2021 1,21x
Nbr of Employees 51 700
Free-Float 99,4%
Chart ROLLS-ROYCE HOLDINGS PLC
Duration : Period :
Rolls-Royce Holdings plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ROLLS-ROYCE HOLDINGS PLC
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Average target price 102,12 GBX
Last Close Price 1,12 GBX
Spread / Highest target 22 202%
Spread / Average Target 9 010%
Spread / Lowest Target 2 647%
EPS Revisions
Managers
NameTitle
David Warren Arthur East Chief Executive Officer & Director
Ian Edward Lamert Davis Chairman
Stephen Wayne Daintith Chief Financial Officer & Executive Director
Paul Stein Chief Technology Officer
Lewis William Killcross Booth Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ROLLS-ROYCE HOLDINGS PLC-54.92%11 781
RAYTHEON TECHNOLOGIES CORPORATION-18.80%108 180
LOCKHEED MARTIN CORPORATION-3.86%102 121
NORTHROP GRUMMAN CORPORATION-11.03%50 392
GENERAL DYNAMICS CORPORATION-15.31%42 761
L3HARRIS TECHNOLOGIES, INC.-2.97%40 339