Grainger refinances with £350m bond issue

Finance

The UK’s largest listed residential landlord Grainger has issued a £350m senior bond aimed at cutting the cost of its debt.

Net proceeds from the issue of the 10-year bond at a coupon of 3.375% will be used to redeem Grainger’s existing £275m corporate bond, which has a coupon of 5% and matures in 2020.

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