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Landsec, unit detail final results of cash tender offers

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Landsec, unit detail final results of cash tender offers

Landsec subsidiary Land Securities PLC is accepting roughly £147.7 million of notes for purchase across six series at a cash cost of £197.1 million, after the expiration of its cash tender offers.

The offer was launched Nov. 29 for a maximum acceptance amount of £500 million of notes, with maturities ranging from 2020 to 2034.

Under the any-and-all offer, the unit will purchase £191,000 of its 5.425% class A3 notes at 109.727%, roughly £1.5 million of its 5.391% class A4 notes at 122.184%, approximately £13.6 million of the 5.376% class A6 notes at 130.334% and £14.6 million of the 4.875% class A10 notes at 118.521%.

Meanwhile, under the all-or-nothing offer, Land Securities will buy around £76.4 million of its 5.396% class A7 notes at 135.317% and about £41.5 million of the 5.125% class A11 notes at 136.655%.

The settlement of the tender offer is scheduled for Dec. 11.