UBM launches bond to pay off debts

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United Business Media has launched its first sterling corporate bond to raise £250 million. The proceeds of the bond, which will be issued on 23 November, will be used to repay outstanding debt and diversify the company’s sources of funding.UBM’s chief financial officer, Robert Gray, says the company has had a positive response from investors. “We're happy to welcome our new investors, and we are particularly pleased that the issue has been placed with an impressive group of high quality institutional investors. We are gratified to have enjoyed such substantial support from the UK institutions.”
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