In order to take advantage of the opportunity to decrease the value of the bonds denominated in the British pound in light of the chaos in the British financial market, the company that owns the Daily Mail and Mirur of the two popular British publications offered their high-risk bonds to investors at a reduced price.
The media business Daily Mail & GM, the owner of the two newspapers, reportedly offered the campaign of its 200 million pound bonds, which are due to be paid in June 2027, their bonds responded in exchange for a percentage of their value in cash, according to the Bloomberg Agency. The corporation intends to invest 40 million pounds in these bonds (45 million dollars).
Bloomberg indicated that the British Information Company followed in the footsteps of a number of borrowed companies that have repaired a quantity of its bonds at reduced prices from their original prices, in light of the decline in the prices of bonds in the secondary market.
After rising to their highest nominal value until last May, the price of the Daily Mail & GM bonds dropped to 85 pence per pound of their nominal value at the same time.
Because of the political unrest caused by the mini-budget plan released by the administration of former Prime Minister Liz Terrass, the majority of which have since been retracted, the value of the Daily Mail & GM bonds declined, as is the case with most bonds denominated in the pound sterling.
British Daily Mail wants to buy its bonds at a lower price.
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