IWG plc (GB:IWG) has released an update.
IWG plc has successfully negotiated the repurchase of £118.3 million of its £350 million convertible bond at a lower than face value price, simultaneously increasing the nominal amount of their US Finance LLC’s bond offering by 15% to €575 million. The repurchase will lead to cancellation of the bonds, with outstanding convertible bonds reduced to £231.7 million if the new bond transaction is completed as planned. The deal is set to enhance IWG’s financial flexibility and reflects a strategic move in their capital management.
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