Redefine Properties restructures as pandemic hits landlords

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By Aidan Gregory
30 Jun 2020

Redefine Properties, the South African real estate company focused on commercial properties, has completed a buy-back of its outstanding €117.2m 1.5% exchangeable bonds due 2021, as part of a wider restructuring of the firm.

The bonds are exchangeable into shares in RDI Reit, the London-listed real estate investment trust.

In a regulatory filing, Redefine Properties said the tender offer had received support from 77.1% of the owners of the outstanding bonds.

JP Morgan was dealer manager on the buy-back, which ...

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