Tender offer begins for Holding d’Infrastructures de Transport notes

By Angela McDaniels

Tacoma, Wash., Sept. 10 – Barclays Bank plc is offering to purchase up to €400 million of the €1.15 billion 5.75% notes due 2018 guaranteed by Holding d’Infrastructures de Transport and issued by HIT Finance BV.

Barclays plans to exchange the notes that it purchases for new notes to be issued by Holding d’Infrastructures de Transport. The notes purchased in the offer will then be canceled.

If holders tender more than €400 million of notes, Barclays will accept notes for purchase on a pro rata basis.

The purchase price will be determined at 9 a.m. ET on Sept. 19 by reference to the sum of the interpolated mid-swap rate and 15 basis points.

Holders will also receive accrued interest up to but excluding the settlement date, which is expected to be Sept. 22.

The tender offer will end at 11 a.m. ET on Sept. 18.

Holders must tender at least €100,000 principal amount of notes in order to participate.

The dealer managers are Barclays (44 203 134 8515 or eu.lm@barclays.com), BNP Paribas (44 20 7595 8668 or liability.mangement@bnpparibas.com) and Societe Generale (44 (0) 20 7676 7579 or liability.management@sgcib.com). The tender agent is Bank of New York Mellon (44 12 0268 9644 or debtrestructuring@bnymellon.com).

Holding d’Infrastructures de Transport builds and maintains toll roads and is based in Issy Les Moulineaux, France.

© 2015 Prospect News.
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