Landsec has launched a tender offer to buy back hundreds of millions of pounds of bonds.

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This afternoon, the company made six offers to buy back £410m worth of bonds, with maturities ranging from 2023 to 2034, and coupons from 4.9% to 5.4%.

The offer will expire at 5pm on 5 February 2020. Landsec said it was buying back the bonds “to provide liquidity to noteholders and proactively manage the Land Securities group’s balance sheet.”

In 2018, the company bought back nearly £1bn worth of bonds across five months.