Janus Henderson Group PLC (NYSE:JHG), a global asset management group, has announced the pricing of a private offering of senior unsecured notes amounting to $400 million, with an interest rate of 5.450% and due in 2034. The offering was made by Janus Henderson US (Holdings) Inc., a wholly owned subsidiary of the company.
The transaction is scheduled to close around Monday, September 10, 2024, subject to standard closing conditions. The notes will be senior unsecured obligations of the issuer and will be guaranteed by Janus Henderson Group PLC.
Proceeds from the sale are earmarked for the redemption of the issuer's existing 4.875% senior unsecured notes due in 2025, including payment of premiums and accrued interest. Any leftover funds will be directed towards general corporate purposes. In the interim, the proceeds may be temporarily placed in short-term, investment-grade liquid assets.
The notes were offered exclusively to qualified institutional buyers under Rule 144A of the Securities Act, and to certain non-U.S. persons in offshore transactions under Regulation S. These notes will not be registered under the Securities Act or any state securities laws and therefore cannot be offered or sold within the United States absent registration or an exemption from registration requirements.
In other recent news, Janus Henderson Group has been making significant strides in its financial performance and strategic growth. The global asset management firm reported solid second quarter results for 2024, with a 37% increase in adjusted diluted earnings per share and a 3% rise in assets under management to $361.4 billion, the highest in over two years. Additionally, 63% of the company's assets have been outperforming benchmarks across multiple timeframes.
In addition to these financial highlights, Janus Henderson is set to acquire a majority stake in Victory Park Capital Advisors, a private credit manager, aiming to enhance its private credit offerings and expand its institutional capabilities. This move is expected to diversify Janus Henderson's private credit exposure and align with the growing client demand for such investment options.
On the strategic front, the company continues to grow its institutional business and expand its market presence through acquisitions, such as the recent purchase of Tabula Investment Management and the planned acquisition of NBK Capital Partners.
InvestingPro Insights
As Janus Henderson Group PLC (NYSE:JHG) navigates its latest financial maneuver with the private offering of senior unsecured notes, it’s insightful to look at the company’s current financial health through real-time data from InvestingPro. With a market capitalization of $5.8 billion and a P/E ratio of 12.48, Janus Henderson appears to be trading at a valuation that may attract investors looking for potentially undervalued opportunities. The adjusted P/E ratio for the last twelve months as of Q2 2024 is slightly higher at 12.78, indicating a stable valuation over time.
InvestingPro Tips also highlight that Janus Henderson has been consistent in returning value to shareholders, having raised its dividend for three consecutive years, and currently offers a dividend yield of 4.24%. Analysts have revised their earnings estimates upwards for the upcoming period, signaling potential optimism in the company's financial prospects. Moreover, with a PEG ratio of 0.33, the company's price-to-earnings growth may seem particularly appealing to growth-oriented investors.
For investors interested in a deeper analysis, InvestingPro offers additional insights, including the fact that Janus Henderson is expected to remain profitable this year and has a strong track record over the last five years. To explore more InvestingPro Tips related to Janus Henderson's financial health and future outlook, visit https://www.investing.com/pro/JHG where numerous additional tips are available.
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