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Discovery list corporate bond in Dublin

Friday, March 07 16:17:32

Global media company, Discovery Communications, has listed its first corporate bond on the Irish Stock Exchange (ISE).

The US based company specialises in non-fiction entertainment and operates more than 190 worldwide television networks including the Discovery Channel and Animal Planet as well as OWN - the Oprah Winfrey Network.

The E300m Senior Notes carry a 2.375pc interest rate and will mature in 2022.

The debt security is listed the Global Exchange Market (GEM), the ISE's market for professional investors.

Having experienced exceptional growth over the last two years, the GEM is widely considered to be the fastest growing market in Europe for debt listing. In the first two months of 2014, the ISE listed 452 debt securities on the GEM, building on its 2013 success when over 2,000 instruments were admitted to this market.

On Discovery's admission, Gerard Scully, Director of International Primary Markets, said, "Banks, corporates and sovereigns from over 75 countries around the world list their debt with the Irish Stock Exchange and we now have over 22,000 debt securities listed with us. Discovery's decision to join GEM highlights its continuing popularity with international debt issuers. Discovery joins other well-known corporate brands which list bonds on the ISE including Microsoft, Prada, Porsche and Bacardi."

Arthur Cox Listing Services acted as listing agent on this transaction.