Premier Foods completes rights issue

Premier Foods said yesterday that it had completed the rights issue portion of its recent capital restructuring, with investors taking up 96 per cent of the shares offered. The owner of Bisto gravy and Mr Kipling cakes, announced it had secured a £1.1bn refinancing package that included raising £353m via a placing and a rights issue, and a further £475m through a bond issue. It has also secured a new £300m banking facility, helping to draw a line under its debt-laden past.

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