com:20091014:RnsN8001A
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RNS Number : 8001A  
  
Provident Financial PLC  
  
14 October 2009  
  
14 October 2009  
  
Provident Financial plc launches and prices £250 million bond issue  
  
Provident Financial plc today announces that it has launched and priced £250 
million 10 year fixed rate bonds. The bonds carry a semi-annual coupon of 8% and 
are expected to be rated BBB+ by Fitch Ratings.  
  
The issue is priced at par equating to a spread over gilts of 449.2 basis 
points. Lloyds TSB Bank plc and The Royal Bank of Scotland plc acted as joint 
book runners and HSBC Bank plc and JPMorgan Cazenove Limited acted as co-lead 
managers of the issue.  
  
The tender offer process for the company's £100,000,000 7.125% Subordinated 
Step-Up Bonds due 2015 announced earlier today will expire at 4:00 p.m. (London 
time) on 20 October 2009.  
  
Andrew Fisher, Finance Director of Provident Financial plc said:   
  
"The strong investor support for the bond issue reflects the underlying 
financial strength of Provident Financial, its performance and clear strategy. 
This issue diversifies Provident Financial's funding sources and further 
strengthens its balance sheet."  
  
ENDS  
  
 
This information is provided by RNS  
  
The company news service from the London Stock Exchange  
  
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