LONDON (Reuters) – Primark owner Associated British Foods on Thursday launched a 400 million pound ($543 million) 2.5% public bond due in 2034 to diversify the group’s sources of funding and extend the duration of its borrowings.
The group, which also owns major sugar, grocery, ingredients and agricultural businesses, said the bonds are being issued ahead of the maturity of its remaining private placement notes.
It said they are expected to be rated ‘A’ by S&P Global Ratings.
($1 = 0.7386 pounds)
(Reporting by James Davey; editing by Jason Neely)
