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K+S begins tender offer for up to €200 million of 3¼% notes due 2024
By Marisa Wong
Los Angeles, Nov. 18 – K+S AG announced an invitation to holders of its €600 million 3¼% notes due July 18, 2024 (ISIN: XS1854830889), of which €400.1 million is outstanding, to tender their notes for purchase for cash up to the maximum acceptance amount of €200 million, according to a notice.
The company is offering to purchase the notes at par. The company will also pay accrued interest.
The company said it reserves the right to accept significantly less than or significantly more than the maximum acceptance amount.
If the offer cap is exceeded, tendered notes will be subject to proration.
The offer expires at 10 a.m. ET on Nov. 29.
Results will be announced on Nov. 30.
Settlement is expected to be on Dec. 1.
HSBC Continental Europe (+44 20 7992 6237; LM_EMEA@hsbc.com) and ING Bank NV (+44 20 7767 6784; liability.management@ing.com) are the dealer managers.
Kroll Issuer Services Ltd. (+44 20 7704 0880; attn.: Jacek Kusion; kpluss@is.kroll.com; https://deals.is.kroll.com/kpluss) is the tender agent.
K+S is a chemical company based in Kassel, Germany.
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