9th Sep 2020 11:11
(Alliance News) - Virgin Money UK PLC said Wednesday it has repurchased GBP444.6 million of its 5% fixed rate reset callable subordinated tier 2 notes due 2026.
The midcap lender offered to purchase up to GBP475.0 million.
Virgin Money UK on Tuesday had launched a tender offer for its GBP475.0 million 5% fixed rate reset callable subordinated tier 2 notes due 2026.
Virgin Money had previously said the tender offer will allow noteholders the "opportunity to redeploy funding" into the lender's proposed new notes.
Shares in Virgin Money UK were down 2.1% in London on Wednesday at 89.94 pence each.
By Paul McGowan; [email protected]
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