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Tuesday, October 17 2017 @ 01:05 PM AST

Legg Mason restructures US$500 million debt

The Baltimore, Maryland, US-based investment management firm Legg Mason announced the restructuring of its Cayman Islands Stock Exchange-listed US$500 million bonds last week (April 13).

The notes that were to mature March 31, 2017, (8 year bonds) will now mature March 31, 2027 (18 year bonds).

The interest payable on the notes were reduced from 6% to 5.5%

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