Strong response to Hammerson bond buy-back tender

Property group Hammerson has been snowed under with Dutch auction bids from investors keen to sell back their bonds to the company, and has had to scale down its tender offer.

Property group Hammerson has been snowed under with Dutch auction bids from investors keen to sell back their bonds to the company, and has had to scale down its tender offer.

The company expects to accept for purchase around 92.3% of all bonds tendered as per the non-competitive tender instructions of its recently announced tender offer to buy back up to €700m of 4.875% bonds due 2015.

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