Sagicor will accept $130.16 million of 8 7/8% notes from tender offer

Chicago, May 7 – Sagicor Finance (2015) Ltd. announced that $130,164,000 principal amount of notes had been tendered in the company’s brief tender offer for its $318,103,000 outstanding 8 7/8% senior notes due 2022 (Cusips: 78669PAA0, G7776BAA3) that launched on Monday, according to a press release.

The company is accepting all of the notes tendered in the offer.

Sagicor Financial Co. Ltd. is the guarantor.

The company was offering $1,010 per $1,000 note as a tender offer consideration.

The offer expired at 5 p.m. ET on May 7.

The guaranteed delivery deadline is 5 p.m. ET on the second business day after the expiration deadline.

No notes had been tendered pursuant to guaranteed delivery procedures by Friday evening.

Settlement is planned for May 13.

Funding for the tender offer will come from the $400 million of new seven-year notes issued this week with a 5.3% coupon. The tender offer was conditioned upon the receipt of those proceeds.

The company will pay, with interest, a total of $134,418,000 to settle the tender offer.

D.F. King & Co., Inc. (212 269-5550, 877 732-3614, sagicor@dfking.com) is the tender and information agent.

Dealer managers for the offer are J.P. Morgan Securities LLC (866 846-2874, 212 834-7279) and RBC Capital Markets, LLC (877 381-2099, 212 618-7843).

Sagicor is a financial services company operating in Latin America and the Caribbean. The issuer is based in George Town, Cayman Islands.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.