Bupa, the international health and care company, today announces that it has launched and priced £350 million 7 year fixed rate bond through its subsidiary, Bupa Finance plc. The bonds carry a coupon of 7.5 per cent and are rated A- and Baa2 by Fitch and Moody's respectively.
The issue is priced at a spread over gilts of 450 basis points. The initial order book was almost 3 times oversubscribed. HSBC and RBS acted as joint book runners and joint lead managers of the issue.
Tom Singer, Group Finance Director of Bupa, said:We are pleased to have secured additional long-term funding for Bupa. The strong investor support for the issue reflects the underlying financial strength of Bupa, its performance and strategy. Our leadership in our chosen markets, strong brand and funding strengths make us an attractive investment proposition.
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Bupa's purpose is to help people lead longer, healthier, happier lives. A leading international healthcare group, we offer personal and company health insurance, run care homes for older people and hospitals, and provide workplace health services, health assessments and chronic disease management services, including health coaching, and home healthcare.
With no shareholders, we invest our profits to provide more and better healthcare, and fulfill our purpose. We are committed to making quality, patient-centred, affordable healthcare more accessible in the areas of wellness, chronic disease management and ageing.
Employing more than 52,000 people, Bupa has operations around the world, principally in the UK, Australia, Spain, New Zealand and the USA, as well as Hong Kong, Thailand, Saudi Arabia, India, China and across Latin America.
For more information, visit www.bupa.com.
