THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION THIS ANNOUNCEMENT INCLUDES INSIDE INFORMATION 28 April 2021 NEW FINANCING ARRANGEMENTS & CONVERTIBLE BOND OFFERING WH Smith PLC ( WH Smith or the Company ) today announces it has successfully agreed new bank financing arrangements and launched a potential offering (the Offering ) of approximately £325m of guaranteed senior unsecured Convertible Bonds due 2026 (the Bonds ).
By Aidan Gregory
17 Dec 2020
Convertible bonds have thrived during the pandemic, as companies rushed to raise capital to shore up their damaged balance sheets or to take advantage of the opportunities for growth that the crisis has unexpectedly created. Meanwhile, investors who bought in have been rewarded with strong returns. More of the same is expected in 2021. Aidan Gregory reports
After a stellar 2020, which saw record issuance volumes in the primary market, equity-linked is expected to remain one of the hottest areas of the equity capital markets for the foreseeable future.
Going into 2021, market participants are confident that the flow of deals will continue, as hard-hit companies seek to refinance themselves to get through what is expected to be a long and difficult winter and even spring, with many countries enduring fresh lockdowns, such as Germany, France and the UK.