Consolidator taps bond markets once again to refinance debt
Towergate is once again tapping the bond markets, seeking £396m from lenders.
The consolidator hopes to secure two bond notes, both around £200m. The notes will mature in February, 2018.
The new corporate bond issuance would allow Towergate to refinance some of its existing debt on new terms.
A spokesman said: “Towergate can confirm that it has launched a further bond offering to investors. It is intended that the bond issuance, if successful, will be utilised in the refinancing of certain existing debt instruments.”
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