UK-based natural gas producers BG Group have issued £750 million of bonds. The 25-year bonds are due in November 2036 and pay a coupon of 5%.
BG Group Chief Financial Officer, Fabio Barbosa said: “Today’s offering builds upon the equally successful $3 billion US bond issue we completed earlier this month. It also takes advantage of the current low interest rate environment to lock in very attractive long-term funding costs. These bond issues, combined with our existing committed facilities of $5.75 billion, provide an important part of the financing for our growth plans.”
BG Energy Capital plc expects the bonds to be rated A, A2 and A by Fitch, Moody’s and Standard & Poors respectively.