17th Jun 2024 14:07
M&G PLC - London-based investment manager - Provides indicative results of bond tender offer launched on Monday last week. Expects to spend about GBP150.0 million, in line with its plan. All of this will be for its 2055 notes. No 2051, 2063 or 2068 notes will be accepted for purchase, M&G says. The expected acceptance amount for the 2055 notes is about GBP161.0 million. M&G expects the purchase spread to be 230 basis points and the pro-ration factor to be 75%.
The tender offer is part of a overall GBP450 million deleveraging plan, which also includes the redemption of GBP300 million in 2049 notes next month.
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By Tom Waite, Alliance News editor
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