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RNS Number : 9844Z International Workplace Group PLC 12 August 2024
12 August 2024
PARTIAL REPURCHASE OF CONVERTIBLE BOND
International Workplace Group plc ("IWG" or "the Company") announces that it
has repurchased £37.2m 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 92.90%, representing a
total consideration of £34.6m. 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, £194.5m (swapped to $247.5m) 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 44.4% 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
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