Phoenix Group Holdings (GB:PHNX) has released an update.
Phoenix Group Holdings plc has initiated a strategic financial move by inviting holders of their U.S.$750,000,000 Fixed Rate Reset Perpetual Restricted Tier 1 Contingent Convertible Notes and U.S.$500,000,000 Fixed Rate Reset Tier 2 Notes to tender their notes for cash. In tandem, the company plans to issue new fixed rate reset perpetual restricted tier 1 contingent convertible notes, subject to market conditions, to manage its redemption profile and provide liquidity and reinvestment opportunities for note holders.
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