Midland Heart Capital Plc (1.831 - Aug 2050): 13 August 2020

Edited Press Release (https://www.midlandheart.org.uk/our-news/press-releases/2020/record-250million-bond-issued-to-market/)

We have issued our strongest bonds issue ever to the market today with an issue of a 30 year £250 million bond (£150m retained) at Gilts plus 120 basis points for an all in yield of 1.831%. This is the record lowest coupon ever achieved for a Midland Heart bond and confirms its attraction to investors as well as capitalising on historically low gilt rates. The bond issue has been assigned a sector leading A1 debt rating from Moody’s.

Our Chief Executive Glenn Harris commented: "We're extremely pleased to be issuing this bond with our strong A1 debt rating. This is testimony to the strong financial position Midland Heart is in and will help us to support the post Covid-19 economic recovery in the Midlands.”

The bond was arranged and placed by TradeRisks Ltd, and Trowers & Hamlins provided the legal advice.