Seven Group offers to buy back convertibles due 2025 at par

By Mary-Katherine Stinson

Lexington, Ky., Oct. 6 – Seven Group Holdings Ltd. launched a repurchase offer for its A$350 million convertible notes due 2025 (ISIN: XS1785357739) on Oct. 6 concurrent with and conditioned on the closing of the company’s new offering of five-year notes exchangeable for ordinary shares of Boral Ltd., according to a notice.

SGH is carrying out a reverse bookbuilding process to receive indications of interest from certain eligible holders of the existing notes.

The company is offering to repurchase the 2025 notes at par plus any accrued interest to the settlement date.

Noteholders who tender their notes may receive preference in the allocation of the new notes.

The company stated that the trading markets for remaining outstanding existing notes may be more significantly limited depending on the extent of the notes accepted for repurchase.

Seven Group is an Australian diversified operating and investment group with market leading businesses and investments in industrial services, oil and gas and media.

© 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.