Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers I > Headlines for International Power plc > News item |
International Power says $52.22 million 2% convertibles tendered
New York, March 29 - International Power plc said holders of $52.22 million of the 2% senior convertible notes issued by International Power (Cayman) Ltd. tendered their securities and delivered consents.
The response represents 50.46% of the $103.52 million outstanding.
The offer expired at 12 p.m. ET on March 26.
International Power announced on March 22 that it was tendering for the convertibles to "provide further efficiency to the group's funding."
The company noted the securities were less than two years from maturity.
In addition, International Power said it was using the tender offer to update the terms of the notes to match its subsequent bonds and bank facilities.
The company was offering $1,082.50 per $1,000 principal amount of notes tendered plus accrued interest up to but excluding the settlement date.
Deutsche Bank AG was the tender agent (+44 20 7547 5000).
© 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.