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  2. Share Prices
  3. IWG Share Price
  4. IWG Share News
  5. IWG To Launch GBP300 Million Bond Offering To Increase Brand Portfolio

Pin to quick picksIWG Share News (IWG)

IWG Information

Share Price Information for IWG (IWG)

London Stock Exchange
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Share Price: 189.80
Bid: 188.40
Ask: 188.70
Change: 1.80 (0.96%)
Spread: 0.30 (0.159%)
Open: 188.10
High: 190.50
Low: 186.20
Prev. Close: 188.00
IWG Live PriceLast checked at -

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IWG To Launch GBP300 Million Bond Offering To Increase Brand Portfolio

Wed, 02nd Dec 2020 09:17

(Alliance News) - IWG PLC on Wednesday announced the launch of an offering of approximately GBP300 million in bonds.

IWG is an operator of service offices and workspaces, with brands including Regus, Spaces and Openoffice.

The convertible bonds due 2027 will be issued by wholly owned subsidiary IWG Group Holdings Sarl and will carry a coupon of between 0.50% and 1.25% per annum, payable semi-annually in arrears in equal instalments.

The initial conversion price is expected to be set at a premium of between 35% and 40% above the volume weighted average price of an IWG share on the London Stock Exchange between launch and pricing of the offering Wednesday.

IWG shares were down 7.5% at 325.20 pence.

IWG said the proceeds will go towards a "number of attractive" merger & acquisition opportunities "to accelerate the development of the business through the addition of brands, centres, services and technologies".

By Greg Roxburgh; gregroxburgh@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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