Phoenix Group Holdings (GB:PHNX) has released an update.
Phoenix Group Holdings plc has successfully completed tender offers for its $750 million Fixed Rate Reset Perpetual Restricted Tier 1 Contingent Convertible Notes and $500 million Fixed Rate Reset Tier 2 Notes due 2031, announcing the purchase of notes amounting to $500 million. The company will pay the purchase price and accrued interest by the expected settlement date of June 18, 2024, with purchased notes to be cancelled and remaining ones to continue under existing terms. This strategic financial move is expected to optimize the company’s capital structure and potentially impact its stock performance.
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