Derwent London prices rare UK property convert
Derwent London, the UK commercial property developer, has shrugged off Brexit-related concerns about the outlook for the London real estate market to place a £175m convertible bond due in 2025 to finance a buyback of an older note due next month.
Barclays and HSBC were global coordinators, JP Morgan and UBS were additional bookrunners. Rothschild was adviser to the company on the new convertible bond offering and the repurchase of the older notes, which are trading in the money.Launched early on Wednesday morning, the ...
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