Summit Digitel accepts $27.37 million early tendered 2031 notes

By Marisa Wong

Los Angeles, Nov. 29 – Summit Digitel Infrastructure Ltd. announced the early results of its Nov. 10 offer to purchase for cash up to $100 million of its $500 million outstanding 2 7/8% senior secured notes due 2031 (Cusip: Y8190DAA5, 86608CAA6).

As of 5 p.m. ET on Nov. 28, the early tender deadline, holders had tendered $27.37 million, or 5.47%, of the outstanding notes, according to a notice on Tuesday.

The company has decided to accept for purchase the $27.37 million of early tendered notes.

Settlement of the early tendered notes will be on Dec. 1.

The company will pay an early tender offer consideration of $735 per $1,000 principal amount of notes tendered by the early tender deadline.

Holders tendering after the early deadline are eligible to receive the tender offer consideration of $705 per $1,000 principal amount.

In either case, the company will pay accrued interest.

The offer expires at 11:59 p.m. ET on Dec. 12.

Tenders may be subject to proration.

The offer is conditioned on the minimum tender of at least $25 million of notes. As of the early tender deadline, the minimum threshold has been met.

Citigroup Global Markets Ltd. (+852 2501 2692; attn.: debt syndicate desk; liabilitymanagement.asia@citi.com) is the dealer manager for the tender offer.

Morrow Sodali Ltd. (+44 20 4513 6933, +852 2319 4130, 203 609-4910; summitdigitel@investor.morrowsodali.com; https://projects.morrowsodali.com/summitdigitel) is the information and tender agent.

Summit Digitel is a Mumbai-based telecommunication tower company.

© 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.