FTSE 100-listed retail property developer Hammerson has announced a tender offer as part of its policy to manage its balance sheet liabilities and optimise its debt structure by utilising its substantial liquidity to manage near term debt maturities and achieve a lower running cost of debt.
The company has invited holders of its £300m 5.25% bonds (due 2016) to tender these in exchange for cash. The price will be set at around 11am on May 23rd.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Up to £100m in total is currently the targeted amount to be accepted for purchase.
The share price dropped 0.81% to 549.50p by 10:15 Thursday.
NR
-
What is the 7 year inheritance tax rule and how does it help cut your bill?Speculation is rife chancellor Rachel Reeves has plans to target inheritance tax once again in her upcoming Budget. But the 7 year inheritance tax rule can save you thousands - here’s how it works.
-
HMRC confirms crypto ETN ISA rulesWith crypto ETNs now technically available for UK retail investors, HMRC has confirmed they can be held in an ISA – but there’s a complication
