Beijing State-Owned Assets settles tender offer for 4 1/8% notes

By Wendy Van Sickle

Columbus, Ohio, Dec. 5 – Beijing State-Owned Assets Management (Hong Kong) Co. Ltd. settled its capped tender offer for its $700 million 4 1/8% notes due 2025 (ISIN: XS1234958459) with the benefit of a keepwell and liquidity support deed provided by Beijing State-Owned Assets Management Co. Ltd., according to a notice.

The company repurchased and canceled $149.88 million of the notes at 100.1 plus accrued interest under the tender, and $550.12 remain outstanding.

As of the expiration of the offer at 11 a.m. ET on Nov. 29, holders had tendered a total of $489,299,000 of the notes, as previously reported.

The issuer decided to increase the maximum purchase amount to $149.88 million from $100 million.

BOCI Asia Ltd. (+852 3988 6311 or project.stellar2022@bocigroup.com) and UBS AG Hong Kong Branch (+852 2971 8888 or ol-gb+-project-stellar-2022@ubs.com) are acting as joint dealer managers.

Kroll Issuer Services Ltd. (+44 20 7704 0880, +852 2281 0114 or bsam@is.kroll.com) is tender and information agent.

The issuer is a Chinese sovereign wealth fund based in Beijing.

© 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.