Howden raises $690 million through add-on senior notes

Howden Group Holdings has completed a private issuance of $690 million of additional 8.125% senior notes due 2032, adding to its existing $500 million tranche. The offering was conducted under Rule 144A and Regulation S, increasing the company’s total outstanding notes in the series to $1.19 billion.

The transaction comes as Moody’s and S&P reaffirmed Howden’s credit ratings at B2 and B, respectively, both with stable outlooks, in January 2026.

“I’m delighted with the outcome and strong support from the capital markets. This successful transaction follows our high yield bond issue in February 2024. We received strong demand and priced the offering above par, benefitting from continued confidence among credit investors in Howden’s sustained performance and growth plans.” – Mark Craig, Group Chief Investment Officer, Howden.