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Aberdeen Diversified to repurchase £43.9 million 6.25% bonds due 2031
By Cady Vishniac
Detroit, Oct. 26 – Aberdeen Diversified Income and Growth Trust plc, a subsidiary of Aberdeen Asset Management plc, in turn a subsidiary of Standard Life Aberdeen plc, will repurchase £43,904,000, or 73.2%, of its 6.25% bonds due 2031 on or near Nov. 2, 2020, according to a company announcement.
The agreed purchase price of 1.54094491, was calculated using a credit spread of 80 basis points above the redemption yield on the U.K. 6% treasury stock due December 7, 2028.
The company will pay approximately £67.65 million to repurchase the notes, not including interest.
The bonds will be repurchased with cash settlement including accrued interest. Repurchased bonds will be canceled, leaving £16,096,000 of the bonds outstanding.
Standard Life Aberdeen is an investment company with headquarters in Edinburgh.
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