T&L ups bond buyback
Tate & Lyle increased a bond buyback to £100m from a planned £70m after its offer attracted strong demand, the British sugar and sweetener group said yesterday.
The bonds were priced at a premium, which the company said was 107.924 per cent or £1,079.24 per £1,000 of bonds. Tate is one of a growing list of European companies with spare cash that have begun to buy back debt as part of plans to make their debt profiles more efficient.