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InterContinental accepts tenders of £227.47 million 3.875% notes
By Taylor Fox
New York, Oct. 7 – InterContinental Hotels Group plc announced the final results of its tender offer for £400 million 3.875% notes due Nov. 28, 2022 (ISIN: XS0859098351) guaranteed by Six Continents Ltd. and InterContinental Hotels Ltd.), according to a news release.
The offer expired at 11 a.m. ET Oct. 6 with £227.47 million of notes validly tendered, which will be the final acceptance amount.
InterContinental will accept for purchase all notes validly tendered under the offer with no pro rata scaling.
The notes will be purchased at 104.4, plus interest.
The settlement date is expected to be Oct. 8.
Notes purchased by the company under the offer will be cancelled and will not be re-issued or re-sold. Following the settlement of the offer, £172.53 million of the notes will remain outstanding.
Barclays Bank plc (+44 20 3134 8515; eu.lm@barclays.com) and BofA Securities (+44 20 7996 5420; dg.lm-emea@bofa.com) are dealer managers for the offer.
Lucid Issuer Services Ltd. (+44 20 7704 0880) is the tender agent.
InterContinental is a Denham, England-based hospitality company.
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