BBC raises £170m with first ever bond issue

The BBC has raised £170m to help finance BBC Worldwide after tapping bond markets for the first time in its history.

According to reports, the broadcaster raised the cash for its commercial arm following a private placement in the US, with a total of eight investors - mainly pension funds - snapping up the issue. The BBC issued a seven-year bond as part of a move to diversify its lending profile. The bonds have an interest rate of 2.71%, and the BBC said the deal was well received by markets, having been over-subscribed a number of times. "This is a very buoyant market in our experience," said Stephen Wheatcroft, group treasurer at the BBC, who added the placement had been over five times subscri...