Partial Redemption of 2027 Convertible Bonds
£136m of £350m 2027 convertible bonds redeemed at par by bondholders, leaving £4m outstanding.
- Convertible bonds redeemed £136m
- Convertible bonds outstanding after redemption £4m
- Original convertible bond facility £350m
- Redemption funded from existing liquidity resources
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International Workplace Group plc ("IWG" or "the Company") announces that £136m (swapped to $174m) in principal amount of IWG International Holdings S.à r.l.'s £350m 0.5 per cent convertible bond due 2027 (the "Convertible Bond") has been redeemed at par on 9 December 2025 following the exercise by certain bondholders of a redemption option pursuant to the terms and conditions of the Convertible Bond. The US dollar currency derivative on the notional amount of the Convertible Bond has been unwound simultaneously.
Following this redemption, £4m ($5m) in aggregate principal amount of the Convertible Bond remains outstanding.
Redemption was funded from existing liquidity resources.
Following redemption, the Company's net debt position remains unchanged. Aside from the $5m outstanding Convertible Bonds, the Company has no financial debt maturities until the RCF in 2029.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.