29th Sep 2021 10:43
Provident Financial PLC - Bradford-based subprime lender - Intends to return up to GBP250.0 million to shareholders by way of a tender offer at a price of 106% of the notes held by shareholders. The tender offer applies to holders of its outstanding USD250.0 million 7.0% notes due in 2023. The outstanding principal amount of the offer is GBP175 million. Proceeds from the notes offering will go towards the repayment of debt and strengthening the capital base of the company, Provident notes. The tender offer will expire on October 5, unless such deadline is extended or terminated earlier by the company.
Current stock price: 336.60 pence
Year-to-date change: up 9.6%
By Will Paige; [email protected]
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