Great Portland Estates Plc released the early results of its cash tender offer to holders of its £150.0 million of 5.625% first-mortgage debenture stock due 2029.
As of the expiration for non-retail investors at 5 p.m. London time on Feb. 1, roughly £121 million worth of bonds had been validly tendered and accepted for purchase.
The office real estate investment trust has priced the offer at 131.884% of the nominal amount of the relevant bonds, plus applicable accrued interest.
The tender offer will expire Feb. 15 for retail investors, with final settlement slated for Feb. 22.
