1st Mar 2006 08:35
Great Portland Estates PLC01 March 2006 For immediate release1 March 2006 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES GREAT PORTLAND ESTATES plc 7.25% First Mortgage Debenture Stock due 2027 Over the past five years, Great Portland Estates plc has re-focussed itsbusiness on the London market. It has also shifted the emphasis of its fundingfrom long-dated secured debt to medium-dated unsecured debt, including therepayment of two of its debenture stocks in full (£100m 9.5% 2016 in 2000, and£100m 10.75% 2021 in 2002). As a further step in this process, the company announces that, from now untilclose of business on 7 March 2006, it will respond to offers from holders of its7.25% First Mortgage Debenture Stock due 2027 who wish to sell their stock backto the company, for cancellation, at a price that gives a spread of 0.375% overthe 6% Treasury Stock 2028 at the time of trade. Stockholders should contactthe company's broker, JPMorgan Cazenove (details below). Contact: Great Portland Estates plc:Timon Drakesmith, Finance Director020 7647 3034 JPMorgan Cazenove:Francis Burkitt/Tim Waters/David Varney/Will Beausire020 7588 2828 The communication of this press release is only being made to those persons inthe United Kingdom who fall within Article 43(2) of the Financial Services andMarkets Act 2000 (Financial Promotions) Order 2005 or any other persons to whomit may otherwise lawfully be made under that Order. Copies of this press release are not being, and must not be, mailed or otherwiseforwarded, distributed or sent in or into or from the United States, and personsreceiving this press release (including custodians, nominees and trustees) mustnot mail or otherwise forward, distribute or send it into or from the UnitedStates. Great Portland Estates plc does not intend to consider offers of stockmade by persons in the United States. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
GPOR.L