Capital & Counties Properties has increased the amount it is to raise from an issue of exchangeable bonds by £25m to £275m.
The bonds, which will now carry a coupon of 2%, are redeemable on 30 March 2026 and will be exchangeable for Capco’s shares in Shaftesbury.
The reference share price has been set at 532.70p and the initial exchange price now set at 719.15p, a 35% premium to the reference share price.
Settlement of the bonds is expected to take place on or around 30 November 2020.
Rothschild & Co has provided financial advice to Capco in relation to the offering.
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