7th Oct 2020 14:17
(Alliance News) - InterContinental Hotels Group PLC on Wednesday said GBP227.5 million were validly tendered under its offer.
In September, the FTSE 100-listed hotel operator launched a tender offer for its GBP400 million 3.875% notes due 2022, stating it intends to buy back the notes at a purchase price of 104.40% of the principal amount of the notes.
On Wednesday, InterContinental said it has received valid tenders of GBP227.5 million. The settlement date for the offer is Thursday.
Following settlement of the offer, GBP172.5 million of 2022 notes will remain outstanding.
Shares in the company were trading 2.1% higher at 4,397.00 pence each in London on Wednesday afternoon.
By Ife Taiwo; [email protected]
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