FWD to Redeem All Outstanding Notes, Perpetuals Post-IPO

MT Newswires Live
Sep 24

FWD Group (HKG:1828) said it will redeem all outstanding $900 million 8.4% subordinated notes due 2029 on Oct. 23, at 101% of principal plus accrued interest, according to a Tuesday Hong Kong bourse filing.

Shares of the life insurer were down nearly 2% in Wednesday morning trade.

Separately, the company will also redeem all $750 million zero-coupon subordinated perpetual capital securities on the same date at 100% of principal plus accrued distribution.

Both redemptions are being carried out under clauses triggered by the company's initial public offering.

FWD said that after completion, no notes or securities will remain outstanding, and it will apply to withdraw its listings from the Hong Kong bourse.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10