24th May 2019 11:48
LONDON (Alliance News) - TP ICAP PLC on Friday said it will buyback and cancel GBP68.6 million worth of 2024 debt notes under a previously announced tender offer which closed on Thursday.
After the buyback, at 104% of the principal for each note tendered, the company will still have GBP431.4 million 2024 noted outstanding.
In mid-May, the interdealer broker had opened the tender offer, aiming to repurchase up to GBP80 million of the GBP500 million loan note issue.
"The purpose of the offer is to manage the company's debt profile," TP ICAP explained in a statement.
Shares in TP ICAP were 0.3% lower at 270.70 pence on Friday.
Related Shares:
TP ICAP