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Prospect News home > News index > List of issuers L > Headlines for Liberty International plc > News item
Published on 12/8/2005 in the Prospect News Convertibles Daily.

Liberty International starts Dutch auction offer to convert 3.95% bonds

New York, Dec. 8 - Liberty International plc announced a modified Dutch auction tender offer to convert its £240 million of 3.95% convertible bonds due 2010.

The company is asking holders to specify the cash payment they would accept to convert the securities into stock.

Expiration is 11 a.m. ET on Dec. 14.

UBS Ltd. (44 20 7568 3426 or 44 20 7568 2308) and Morgan Stanley & Co. International Ltd. (44 20 7425 4303 or 44 20 7677 5076) are handling the auction.

Liberty International, a London real estate company, priced £240 million of the 3.95% convertibles in September 2003. They convert at a price of 800p. Its stock closed at 989p Wednesday.


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