Phoenix Group Holdings (GB:PHNX) has released an update.
Phoenix Group Holdings plc has launched a new issuance of $500 million Fixed Rate Reset Perpetual Restricted Tier 1 Contingent Convertible Notes with an annual interest rate of 8.5% until June 2030. The company also set the maximum acceptance amount for its tender offers of existing notes at $500 million. These recent financial maneuvers are aimed at optimizing Phoenix Group’s capital structure and offer opportunities for investors to engage with the company’s debt instruments.
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