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BRIEF-Phoenix Group Holdings announces offer to purchase senior debt and tier 3 tap issue
April 25, 2017 / 9:06 AM / 5 months ago

BRIEF-Phoenix Group Holdings announces offer to purchase senior debt and tier 3 tap issue

April 25 (Reuters) - Phoenix Group Holdings:

* Announces offer to purchase sterling senior debt and expected tier 3 tap issue

* Inviting eligible holders of its 300 mln stg 5.75 pct bonds due 2021 to tender their bonds for purchase by company for cash

* Continues to look for opportunities to further diversify away from senior debt

* Says move will improve capital position of company, if company were to be included in solvency ii group regulatory capital calculation

* Offer is made on terms and subject to conditions contained in tender offer memorandum dated 25 April 2017

* Says final determination of purchase price will be made, at or around 11:00 a.m. (london time) on business day following expiration deadline Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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