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Virgin Money UK PLC - Leeds-headquartered financial services company - Announces a tender offer for its outstanding £450 million 8% fixed rate reset perpetual subordinated contingent convertible notes. Says offer is to provide liquidity for investors in the notes alongside the opportunity to redeploy funding into proposed new notes. ‘The issuer proposes to accept for purchase any validly tendered Notes up to a maximum aggregate principal amount equal to the sum of (i) the aggregate principal amount of the new notes; and (ii) £100,000,000,’ it says. To announce the maximum acceptance amount after pricing the new notes.
Current stock price: 144.30 pence each on Tuesday, down 2.0%
12-month-change: down 32%
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