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Taylor Wimpey to redeem some 11 1/8% bonds, 10.925% bonds on Monday
By Jennifer Chiou
New York, June 5 - Taylor Wimpey plc announced the mandatory redemption of some of its £250 million of 11 1/8% bonds due 2012 and £200 million of 10.925% bonds due 2019 on Monday.
The company said it expects to make payments of £42,159,765.92 for the 11 1/8% bonds and £35,191,084.30 for the 10.925% bonds.
The company noted that following the mandatory redemption payments, for each £1,000 principal amount of either series of bonds that was originally outstanding, £835.42 of principal will remain outstanding.
In other news, Taylor Wimpey said it intends to make voluntary redemption payments of about £70 million under its debt facilities.
Taylor Wimpey is a London-based homebuilding company.
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