![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
Gros Uk Fin | LSE:62QE | London | Debenture |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 130.875 | 0 | 01:00:00 |
RNS Number:6948N Grosvenor UK Finance PLC 26 November 2001 26 November, 2001 For immediate release Grosvenor UK Finance plc #100,000,000 fungible tap issue of 6.50 per cent. Debenture Stock due 2026 (the "Stock") On 8 June, 2001 Grosvenor UK Finance plc issued #100,000,000 6.50 per cent. Debenture Stock due 2026 (the "Original Stock"). Today, the company announces a fungible tap issue of another #100,000,000 of the Stock (the "New Stock"), to double the aggregate issue size to #200,000,000. The issuer is a finance subsidiary of Grosvenor Limited, which is the UK and Ireland holding company for the business of Grosvenor Group Holdings Limited. The group is one of the UK's largest and most prestigious property companies, and is headed by the Duke of Westminster. Grosvenor Limited believes that current conditions in the UK bond markets offer the opportunity to raise long-term debt at attractive rates. The proceeds will in due course be used to repay existing shorter-term debt and/or to invest in and develop the group's real estate portfolio. The New Stock will rank pari passu in point of security with, and will be consolidated and form a single series with, the Original Stock as from 14 December, 2001 (the "closing date"), being the date of issue of the New Stock. The Stock is secured by a floating charge over the undertaking and assets of Grosvenor West End Properties. This company is a subsidiary of Grosvenor Limited, holding property assets in Mayfair and Belgravia. The joint lead-managers and joint-bookrunners of the issue are Barclays Capital and Cazenove. The issue price of the New Stock is #104.791 per #100 nominal, plus #1.36 per #100 nominal in respect of interest accrued to the closing date. At that price, the gross redemption yield on the stock is 6.121 per cent. semi-annual, being a margin of 1.55 per cent. over that of the 6 per cent. Treasury Stock 2028 at the time of pricing. The Stock pays interest on 29 March and 29 September each year. The first payment of interest on the New Stock, due on 29 March 2002, will be #3.25 per #100 nominal. Application will be made to the UK Listing Authority and London Stock Exchange plc to list and trade the stock. -------------------------------------------------------------------------------- For further information, please contact: Grosvenor Richard Handley, Finance Director 020 7312 6368 Limited Justin St Clair-Charles, Marketing and Communications Director 020 7312 6373 Barclays Marco Baldini, Director 020 7773 9507 Capital Cazenove Francis Burkitt, Director 020 7825 9942 -------------------------------------------------------------------------------- In connection with the issue of the New Stock, Barclays Bank PLC may from time to time over-allot or effect transactions with a view to supporting the market price of the New Stock at a level higher than that which might otherwise prevail for a limited period after the date of issue of the New Stock. However, there may be no obligation on Barclays Bank PLC or any agent of it to do this. Such stabilising action, if commenced, may be discontinued at any time, must be brought to an end after a limited period, and will be carried out in accordance with all applicable laws and regulations.
1 Year Gros Uk Fin Chart |
1 Month Gros Uk Fin Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions