British Land is to buy back £170m of bonds from an original issue of £200m due in 2020.
The buyback will see the REIT rationalise some of its debt and, according to the company, there will be no re-issue or re-sale of the bonds once the process is complete.
The buyback will commence on 2 December with a price for the purchase set at 11am that day.
Within the purchase price paid will be an accrued interest payment and it will cover a spread of 95bps.
The deadline to register interest in the offer will be 4pm on 1 December.
