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Urenco announces bond issue
03 December 2014 Financial NewsUrenco Group (“Urenco” or “the Group”), an international supplier of uranium enrichment and nuclear fuel cycle services, has today announced the successful issuance of €500 million 2.375% notes due 2024.
Barclays, BNP Paribas and RBS acted as the joint Lead Managers for the offering.
Urenco intends to use the proceeds of the bond issue for general corporate purposes including the refinancing of existing debt.
The order book was oversubscribed more than two-fold with investment predominantly from European institutional investors.
Urenco has corporate credit ratings from Standard & Poor’s, Moody’s and Fitch of BBB+ (stable outlook), Baa1 (stable outlook) and A- (negative outlook), respectively.
This is the second bond issued by Urenco this year, and follows the issue of €750 million 2.50% notes due 2021 in February.
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About Urenco
Urenco is an international supplier of enrichment services and fuel cycle products with sustainability at the core of its business. Operating in a pivotal area of the nuclear fuel supply chain for 50 years, Urenco facilitates zero carbon electricity generation for consumers around the world.
With its head office near London, UK, Urenco’s global presence ensures diversity and security of supply for customers through enrichment facilities in Germany, the Netherlands, the UK and the USA. Using centrifuge technology designed and developed by Urenco, and through the expertise of our people, the Urenco Group provides safe, cost effective and reliable services; operating within a framework of high environmental, social and governance standards, complementing international safeguards.
Urenco is committed to continued investment in the responsible management of nuclear materials; innovation activities with clear sustainability benefits, such as nuclear medicine, industrial efficiency and research; and nurturing the next generation of scientists and engineers.
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