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Kerzner tenders for 6¾% notes
By Laura Lutz
Des Moines, Aug. 1 - Kerzner International Ltd. announced a tender offer and consent solicitation for its 6¾% senior subordinated notes due 2015.
Kerzner will pay $1,071.67 plus accrued interest per $1,000.00 of principal amount for the notes, including a $20.00 consent payment.
The tender offer expires at 12:01 a.m. ET on Aug. 29. The consent deadline is 5 p.m. ET Aug. 15.
Notes tendered after the consent deadline will not receive the consent payment.
The company is seeking consents to eliminate substantially all of the restrictive covenants and some events of default and related provisions from the note indenture.
The tender offer is subject to some conditions, including consummation of the acquisition of Kerzner by an investor group.
MacKenzie Partners, Inc. is the information agent (800 322-2885 or 212 929-5500). Deutsche Bank Securities Inc. is the dealer manager (800 553-2826).
Kerzner is a resort and hotel operator based in Plantation, Fla.
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