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M&G PLC - London-based investment manager - Provides indicative results of bond tender offer launched on Monday last week. Expects to spend about £150.0 million, in line with its plan. All of this will be for its 2055 notes. No 2051, 2063 or 2068 notes will be accepted for purchase, M&G says. The expected acceptance amount for the 2055 notes is about £161.0 million. M&G expects the purchase spread to be 230 basis points and the pro-ration factor to be 75%. The tender offer is part of a overall £450 million deleveraging plan, which also includes the redemption of £300 million in 2049 notes next month. Current stock price: 201.16 pence 12-month change: up 2.3% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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