Urban Exposure cancels offering of seven-year 6½% sterling bonds

By Angela McDaniels

Tacoma, Wash., Aug. 6 – Urban Exposure Finance plc canceled its proposed offering of seven-year 6½% bonds denominated in pounds sterling, according to a filing with the London Stock Exchange.

The issuer and Urban Exposure plc decided not to proceed due to adverse market conditions during the offer period, according to the filing.

Urban Exposure said it will continue to pursue other asset management strategies in line with its stated business plan and will continue to assess market conditions with a view to issuing debt securities under the euro medium-term note program “at an appropriate time.”

As previously reported, the company launched the offering on July 15 and originally planned to close the offer period at 7 a.m. ET on July 30 before extending the offer period to 7 a.m. ET on Aug. 6.

Urban Exposure is a real estate development finance provider and asset manager based in London.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.