Welltec offers cash for any and all 9½% secured notes due 2022

Chicago, Sept. 27 – Welltec A/S is offering to purchase for cash any and all of its $340 million outstanding 9½% senior secured notes due 2022 (Cusips: 950399AB1, K9897UAB4), according to an offer document.

The company is offering to pay $1,012.14 per $1,000 note, plus interest to the settlement date.

The offer is subject to a financing condition.

Tendering noteholders may receive priority allocation for the new notes that are part of the financing condition, after having made a separate application for the purchase of the notes to the dealer manager.

Noteholders may tender their notes via guaranteed delivery procedures, if necessary.

The tender offer will expire at 5 p.m. ET on Oct. 13. Settlement is expected for Oct. 15.

For all notes not tendered in the offer, Welltec plans to issue a notice of redemption for Dec. 1. The redemption price would be par plus interest for the redeemed notes.

Morgan Stanley & Co. International plc is the dealer manager (+44 20 7677 5040, 800 624-1808, 212 761-1057, liabilitymanagementeurope@morganstanley.com).

D.F. King & Co., Inc. is the information and tender agent for the offer (800 820-2416, 212 269-5550, welltec@dfking.com).

The issuer is an Allerod, Denmark-based oilfield services provider.

© 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.