Capital structure

Capital structure

Share Capital

As at close of business on 30 June 2021, London Stock Exchange Group plc (LSEG) confirms that its share capital consists of a total of 557,200,246 ordinary shares made up of: (i) 506,075,869 voting ordinary shares of 6 79/86 pence each, which carry one vote each; and (ii) 51,124,377 limited-voting ordinary shares of 6 79/86 pence each, which carry one-tenth of a vote each. LSEG does not hold any shares in treasury. Therefore, the total number of voting rights in LSEG on 30 June 2021 is 511,188,307

Borrowings

The Group has the following committed bank facilities and unsecured notes:

Notes / Facility

Carrying value at
31 December 2020

Interest rate percentage at
31 December 2020

Type

Expiry Date

£m

£m

%

 

Dual-currency bridge credit facility

Jan-221

8,156

(8)

LIBOR + 0.30

Multi-currency revolving credit facility

Nov-222

600 / 0

6

LIBOR + 0.45

Multi-currency revolving credit facility

Dec-243

600 / 1,425

138

LIBOR + 0.30

Multi-currency revolving credit facility

Dec-254

0 / 1,075

(1)

LIBOR + 0.475

Committed bank facilities

135

Commercial paper5

Jan-20

170

170

(0.380)

 

€500m term loan Dec 20236 451

-

LIBOR + 0.725
$2,000m term loan Dec 20236 1,468

(2)

LIBOR + 0.725
Committed term loans

(2)

£300m bond, issued November 2012

Nov-21

300

300

4.750

€500m bond, issued September 2017

Sep-24

451

450

0.875

€500m bond, issued December 2018

Dec-27

451

448

1.750

€500m bond, issued September 2017

Sep-29

451

449

1.750

Bonds

1,647

Total committed facilities and unsecured notes

1,950

1 Terminates January 2022, with an option to extend for a further 6 months.
2 This facility is to be cancelled at the time of the Refinitiv acquisition and replaced with a new £1,075m 5 year facility.
3 This facility will be amended to increase the facility limit to £1,425m at the time of the Refinitiv deal close.
4 This facility will become effective when the Refinitiv acquisition closes and will replace the £600m facility maturing in November 2022.
5 The Commercial paper interest rate reflected is the average interest rate achieved on the outstanding issuances.
6 These term loan facilities will be effective at the time of the Refinitiv acquisition and partially replace and term out the bridge facilities.

Senior Unsecured Notes

London Stock Exchange Group plc (“LSEG” or the “Group”) has priced multi-tranche and multi-currency offerings (the “Offerings”) of notes (the “Notes”) issued by the Group and its subsidiaries LSEG Netherlands B.V. (“LSEG Netherlands”) and LSEGA Financing plc (“LSEGA plc”, and together with LSEG Netherlands and LSEG, the “Issuers”) under the Issuers’ Global Medium-Term Note programme, established on 23 March 2021 (the “Programme”). The key terms of each Offering are set out below.

Issuer

Guarantor

Amount

Annual Coupon

Maturity Date

London Stock Exchange Group plc

n/a

£500m

1.625%

6 April 2030

LSEG Netherlands B.V.

London Stock Exchange Group plc

€500m

0%

6 April 2025

LSEG Netherlands B.V.

London Stock Exchange Group plc

€500m

0.25%

6 April 2028

LSEG Netherlands B.V.

London Stock Exchange Group plc

€500m

0.75%

6 April 2033

LSEGA Financing plc

London Stock Exchange Group plc

$500m

0.65%

6 April 2024

LSEGA Financing plc

London Stock Exchange Group plc

$1,000m

1.375%

6 April 2026

LSEGA Financing plc

London Stock Exchange Group plc

$1,000m

2%

6 April 2028

LSEGA Financing plc

London Stock Exchange Group plc

$1,250m

2.5%

6 April 2031

LSEGA Financing plc

London Stock Exchange Group plc

$750m

3.2%

6 April 2041

Each Offering settled on 6 April 2021. The Notes will be listed on London Stock Exchange and will be rated A3 by Moody’s and A by S&P.