Seazen’s New Metro wraps tender offer for 7½% senior notes due 2022

By Marisa Wong

Los Angeles, Feb. 22 – Seazen Holdings Co., Ltd.’s indirect wholly owned subsidiary, New Metro Global Ltd., announced it completed its offer to purchase for cash any and all of its $200 million outstanding 7½% senior notes due 2022 (ISIN: XS1839368831) guaranteed by Seazen.

The issuer paid a final aggregate amount of $164,426,163.37, which includes accrued interest, to holders of the accepted notes. Settlement occurred on Feb. 18.

After completion of the offer and cancellation of the accepted notes repurchased, a total of $40,492,000 of the notes remains outstanding.

The company had offered to buy the notes at par plus interest to the settlement date.

Tender instructions were due by 11 a.m. ET on Feb. 16.

Funding came from the internal resources of New Metro Global and Seazen.

Haitong International Securities Co. Ltd. was the dealer manager.

D.F. King & Co., Inc. acted as information and tender agent (+44 20 7920 9700, +852 3953 7208, seazen@dfking.com, https://sites.dfkingltd.com/seazen).

Seazen is a Shanghai-based real estate developer.

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