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Intu buys back additional £57M of convertible bonds due 2018

Intu Properties Plc repurchased an additional £57.0 million in aggregate principal amount of the £300.0 million in 2.50% convertible bonds due 2018.

The company, serving as guarantor of the bonds, previously bought back £32.7 million of the bonds issued by intu (Jersey) Ltd., according to a Sept. 28 release.

Following the repurchase, the aggregate principal amount of the convertible bonds outstanding was further reduced to £210.3 million.

Intu may carry out buybacks from time to time, subject to market conditions, and will move to either cancel the repurchased bonds or hold them until maturity date.