IWG plc (GB:IWG) has released an update.
International Workplace Group plc (IWG) has strategically repurchased £37.2 million of its £350 million convertible bond due in 2027, spending a total of £34.6 million, with the repurchased bonds set for cancellation. With this move, IWG has reduced the outstanding amount of the bonds to £194.5 million, and is open to further repurchases depending on market conditions. This act of financial prudence is in line with the company’s efforts to manage its debt more efficiently and optimize its capital structure.
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