M&G Plc (GB:MNG) has released an update.
M&G Plc has launched a cash tender offer for four series of its Resettable Dated Tier 2 Notes, with a combined nominal amount of £2.55 billion, maturing between 2051 and 2068. The purchase prices for these long-term debts will be determined through a modified Dutch auction process, with the company setting aside up to £150 million for the offers, excluding accrued interest. This strategic financial move aims to proactively manage the company’s outstanding capital, with the tendered notes to be cancelled upon purchase.
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