Italy’s Kedrion gets tenders for €91.08 million of 4.625% notes

By Susanna Moon

Chicago, July 5 – Kedrion SpA said investors had tendered €91.08 million of its €300 million of 4.625% notes due April 24, 2019.

Kedrion expects to accept all of the tendered notes for settlement on July 12 if the tender’s new notes condition is met, according to a company update on Wednesday.

As announced on June 27, the purchase price will be 107% of par, or €1,070 per €1,000 principal amount, plus accrued interest up to but excluding the settlement date.

The tender offer ended at 11 a.m. ET on July 4.

The company previously said it plans to issue a series of new euro-denominated notes, which would allow an extension of the average maturity of its debt and to reduce the average cost.

The joint dealer managers are Banca IMI SpA (+39 02 72615938 or Liability.Management@bancaimi.com), Mediobanca - Banca di Credito Finanziario SpA (+39 02 88291 or MB_LM _CORP_IT@mediobanca.com) and Natixis (+39 02 00667154 or liability.management-corporate@natixis.com).

The tender agent is Lucid Issuer Services Ltd. (+44 20 7704 0880 or kedrion@lucid-is.com).

Kedrion is a biopharmaceutical company located in Lucca, Italy.

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