Health and Happiness withdraws offer for 5 5/8% notes

By Mary-Katherine Stinson

Lexington, Ky., May 25 – Health and Happiness (H&H) International Holdings Ltd. announced it will withdraw the tender offer for its $269,656,000 outstanding 5 5/8% senior notes due 2024 (ISIN: XS2067255328), citing that the new issue condition will not be met by the expiration time, according to a notice.

The offer expired at 11 a.m. ET on May 25.

All tendered notes will be returned to or credited back to the noteholders.

No consideration will be paid.

The company stated in the notice that it is actively exploring alternative transaction structures, which may include a new exchange offer and/or tender offer.

As previously reported, when the offer was launched, the company was offering to purchase the notes at $1,014.0625 for each $1,000 principal amount plus accrued interest.

The maximum acceptance amount was to be determined after the offer expired.

Deutsche Bank AG, Hong Kong Branch, Goldman Sachs (Asia) LLC and Hongkong and Shanghai Banking Corp. Ltd. were the dealer managers, and Kroll Issuer Services Ltd. (+44 20 7704 0880, +852 2281 0114; hh@is.kroll.com; https://deals.is.kroll.com/hh.) was the information and tender agent.

The health supplements and child health company is based in Hong Kong.

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