Premier Foods is pleased to confirm that following its announcement on 19 May 2021, it has priced the offering of new £330m Fixed Rate Notes (the Notes )
1 due October 2026 at an annual interest rate of 3.5%. This will result in a further £8m per annum reduction in the Group s financing costs and so increases its FY21/22 expectations for adjusted profit before tax. The pricing of these Notes at 3.5% further illustrates the substantial progress we have made in the last two years to strengthen our financial position. With now significantly improved leverage, our reduced levels of fixed debt and lower interest costs mean we are raising our expectations for adjusted PBT.
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