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Great Portland releases final results of tender offer for £150M of bonds

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Great Portland releases final results of tender offer for £150M of bonds

Great Portland Estates Plc released the final results of its cash tender offer to holders of its £150 million of 5.625% first-mortgage debenture stock due 2029.

As of the expiration at 5 p.m. London time on Feb. 15, roughly £121 million worth of bonds had been validly tendered and accepted for purchase.

The office real estate investment trust priced its offer at 131.884% of the nominal amount of the relevant bonds, plus applicable accrued interest.

The settlement date for bonds validly tendered by the expiration deadline and not already acquired on the early settlement date is anticipated to be Feb. 22.