British Land closes £350m bond offer with 0% coupon

British Land has launched a £350m offer of senior, unsecured convertible bonds to help fund recent London purchases. In a statement to the London Stock Exchange, the UK REIT said the bonds have a maturity date of 9 June 2020 and are expected to carry a coupon of between 0.00% and 0.50%. They will be convertible into ordinary shares of the company.