CLS is to redeem £65m of 5.5% bonds early at the end of July in a move to cut its cost of debt.
The bonds, due in 2019, is expected to cost £68.7m to redeem – £3.7m more than the par value of the bonds.
CLS estimated the cost as about £1.3m less than the interest it would otherwise have to pay until redemption.
It said the company’s average cost of debt will fall by 23 basis points to 2.28% and its EPRA NAV will fall by 0.7p.
The redemption will be funded from existing liquid resources.
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