Hammerson PLC Redemption of GBP 250m 6.875% Bonds due 2020 (5455Q)
13 September 2017 - 4:00PM
UK Regulatory
TIDMHMSO
RNS Number : 5455Q
Hammerson PLC
13 September 2017
Hammerson plc
13 September 2017
Hammerson plc announces exercise of early redemption option in
respect of GBP 250,000,000 6.875% Bonds due 2020
If you are in doubt about any aspect of this announcement and/or
the action you should take, you should consult immediately your
stockbroker, bank manager, solicitor, accountant or other
professional advisor authorised under the Financial Services and
Markets Act 2000 (if you are in the United Kingdom) or another
appropriately authorised independent financial adviser.
Hammerson plc (the Company) announces the exercise of the
Company's early redemption option in respect of the GBP 250,000,000
6.875% Bonds due 2020 of which GBP 250,000,000 is currently
outstanding (ISIN: XS0109514538) (the Bonds).
Capitalised terms used in this announcement shall bear the
meanings given to them in the Terms and Conditions of the Bonds set
out in the Second Supplemental Trust Deed dated 31 March 2000 and
the Third Supplemental Trust Deed dated 15 March 2001, in each case
as amended by the Ninth Supplemental Trust Deed dated 4 December
2009 (the Terms and Conditions).
The Bonds will be redeemed in full on 20 October 2017 pursuant
to Condition 7(b) of the Terms and Conditions. The Company has
today delivered the notice required by Condition 7(b) to Euroclear
and Clearstream, Luxembourg. In accordance with the conditions of
the Bonds, the notice will be deemed to have been given to the
Bondholders on 20 September 2017. Accordingly, the notice is deemed
to be delivered within the 30 to 45 day period prior to the date of
redemption as required by Condition 7(b).
In connection with the redemption, the Company confirms the
following:
Relevant Date: 11 September 2017
Redemption Price: 116.104% (excluding accrued interest)
Accrued interest: GBP 38.19 per GBP 1,000 nominal
Total payment: GBP 1,199.23 per GBP 1,000 nominal
The Redemption Price was calculated using the Gross Redemption
Yield at 3pm (London time) on the Relevant Date of the 8 per cent
Treasury Stock 2021, in accordance with Condition 7(b)(ii).
Holders of Bonds which are held by Clearstream, Luxembourg or
Euroclear should contact the relevant corporate actions departments
within the Clearing Systems for further information.
ENDS
Note: the announcement above has also been released on the SENS
system of the Johannesburg Stock Exchange.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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