PARTIAL REPURCHASE OF CONVERTIBLE BOND

International Workplace

12/03/2025 07:00

RNS Number : 2716A

International Workplace Group PLC

12 March 2025

 

 

 

 

12th March 2025

 

PARTIAL REPURCHASE OF CONVERTIBLE BOND

 

International Workplace Group plc ("IWG" or "the Company") announces that it has repurchased £17.5m in aggregate principal amount of IWG International Holdings S.À R.L.'s £350m 0.5 per cent. convertible bond due 2027 (the "Convertible Bond") at a weighted average price of 96.5%, representing a total consideration of £16.89m. The associated portion of the US dollar currency derivative on the notional amount of the Convertible Bond repurchased has been unwound simultaneously.

 

Following this purchase, £140.7m (swapped to $179.0m) in aggregate principal amount of the Convertible Bonds remains outstanding. IWG may look to make further repurchases from time to time, subject to market conditions.

 

The Convertible Bonds which have been repurchased will be surrendered by the Company for cancellation.

 

This notification complies with LR 9.7.2 in relation to the aggregate repurchase of 59.8% of the principal amount of the Convertible Bonds initially issued. Further announcements will be made in accordance with the Listing Rules in the event that more Convertible Bonds are repurchased.

 

 

Further information

International Workplace Group plc
Charlie Steel, Chief Financial Officer
Richard Manning, Head of Investor Relations
See IWG Investor Relations website for contact details

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 
  END

 

 
CONGPUWAWUPAGBG