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BSkyB to raise $600 million in bond issue

BSkyB to raise $600 million in bond issue

Satellite broadcaster British Sky Broadcasting Group PLC said Tuesday it plans to raise $600 million in a bond issue to refinance existing debt and acquire new businesses.
BSkyB, whose biggest shareholder is Rupert Murdoch's News Corp., said it will pay 9.5 percent interest on the 10-year bond notes to be issued to institutional investors.
It expects the offer to close by Nov. 24.
Last month, BSkyB posted a 21 percent rise in third-quarter operating profit resulting from a sharp increase in new customers.
Shares fell half a percent in morning trading to 376 pence ($5.64).


Updated : 2021-10-21 20:17 GMT+08:00