Centrica Sets Tender Offer for 2033 Notes

Centrica (GB:CNA) has released an update.

Centrica plc has launched a tender offer to purchase up to £350 million of its £770 million 7.00% Notes due 2033 for cash, aiming to optimize its balance sheet and manage debt maturity profiles. The purchase price will be determined on June 12, 2024, and will be based on a formula involving a benchmark security rate plus a purchase spread of 90 basis points. Noteholders interested in the offer must submit their tender instructions by the deadline of June 11, 2024.

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