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Mersin completes redemption of remaining 5 3/8% notes due 2024
By Mary-Katherine Stinson
Lexington, Ky., Dec. 7 – Mersin Uluslararasi Liman Isletmeciligi AS has completed the redemption of all its 5 3/8% notes due 2024 (ISIN: XS2071397850, US590454AB08) that remained outstanding after the company’s recent tender offer, according to a press release.
The remaining notes were redeemed at par plus interest on Dec. 6.
As previously reported, on Nov. 6, Mersin published a conditional notice of redemption for any remaining outstanding notes. On that same date, Mersin also announced that the financing condition was satisfied. The redemption was conditional on the issue of new fixed-rate notes totaling the necessary funds to fully redeem the notes for a nominal amount of $600 million, which was the original issue size.
The aggregate principal amount of the outstanding notes on the redemption date was the aggregate principal amount remaining following the final settlement date of the tender offer.
At the expiration of the company’s previous tender offer on Nov. 15, holders representing $410,685,000 principal amount had tendered their notes.
The Mersin-based issuer runs Turkey’s largest port, which is jointly owned by Akfen Holding and PSA International.
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