McDonald's Premier Capital plc launches "65m bond issue

Premier Capital plc, the McDonald's division of Hili Ventures, has launched a "65 million bond issue maturing in 2026.
The unsecured bonds, at a nominal value of "100 per bond issued at par, bear an annual interest rate of 3.75 per cent.
Premier Capital plc is giving preference to holders of the current "24.6 million 6.8 per cent bonds 2017-2020 to subscribe to this new bond issue by surrendering their exchangeable bonds.
Existing bondholders opting to exchange their holding will continue to earn an effective rate of 6.8 per cent until March 15, 2017. Bonds remaining in issue as at March 16, 2017 will be redeemed.
Proceeds from the new bond issue will be used to repay bank facilities in Malta and Latvia, partly repay bank facilities in Romania, and part-finance the projected capital expenditure to open new McDonald's restaurants and renovate existing stores in 2017.
Premier Capital plc is the Developmental Licencee for McDonald's in the Baltic states, Greece, Malta and Romania. It currently operates 133 restaurants in six countries. The restaurant network includes 68 Drive Thru and 40 McCafe operations.
More than 100 million customers are served at McDonald's restaurants...

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