Business Context and Reporting Period
This Form 6-K filing by Reed Elsevier PLC and Reed Elsevier NV (now RELX PLC) was furnished to the SEC on June 14, 2005. The report serves as a joint notification of a significant capital market transaction rather than a periodic financial performance report.
Key Financial Metrics
The filing does not provide standard operating metrics such as revenue, profit, cash flow, or margins. The primary financial data point disclosed is the completion of a $700 million two-tranche global bond issuance.
Material Changes
The material event reported is the successful completion of the $700 million global bond offering. This transaction involves the issuance of both fixed-rate and floating-rate notes, as evidenced by the attached underwriting agreement and note forms.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or specific risk factors related to operations. The document focuses exclusively on the execution of the debt financing and incorporates the press release and underwriting agreement by reference.
Investor Verification Checklist
- Verify the specific interest rates and maturity dates for the fixed and floating rate tranches in the attached Exhibit 99.1 press release.
- Confirm the allocation of proceeds from the $700 million bond issuance.
- Review the underwriting agreement (Exhibit 99.2) for any covenants or conditions imposed by Citigroup Global Markets Inc. and Deutsche Bank Securities Inc.
- Check subsequent filings for the impact of this new debt on the company's leverage ratios.