| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers L > Headlines for Lenovo Group Ltd. > News item |
Lenovo sets tender offer cap for 4¾% notes due 2023 at $200 million
By Marisa Wong
Los Angeles, July 22 – Lenovo Group Ltd. set the tender cap for its tender offer for its 4¾% notes due March 2023 (ISIN: XS1765886244), according to a notice on Friday.
The tender cap is $200 million, but the company may raise, amend or otherwise waive the tender cap at its discretion.
At the start of the offer on July 18, $686,779,000 of the original $750 million principal amount was outstanding.
Lenovo is offering a tender price of $1,005 per $1,000 of notes plus accrued interest up to but excluding the settlement date.
The offer was set to expire at noon ET on July 22.
Settlement is expected on or about July 27.
Tenders may be prorated if the cap is exceeded.
Tenders may not be withdrawn under any circumstances.
The offer is subject to a financing condition.
Lenovo had announced on July 18 that it was concurrently offering new dollar-denominated fixed-rate senior notes in two tranches, including a green tranche. Proceeds derived from the non-green tranche were to be used to finance the tender offer.
The company priced $625 million of notes due January 2028 and $625 million of green notes due July 2032 on July 20, according to a market source.
Citigroup Global Markets Ltd. (+852 2501 2693, liabilitymanagement.asia@citi.com), Morgan Stanley & Co. International plc (+44 20 7677 7799, tmgap@morganstanley.com), BNP Paribas (+852 2108 5056, asia_syndicate@bnpparibas.com, liability.management@bnpparibas.com), Credit Suisse (Hong Kong) Ltd. (+852 2101 7847, list.liabilitymanagementasia@credit-suisse.com), HSBC Ltd. (+852 3941 0223, liability.management@hsbcib.com), J.P. Morgan Securities plc (+852 2800 2195, +852 2800 8201, Liability_Management_LENOVO@jpmorgan.com), DBS Bank Ltd. (+852 2806 5325, liabilitymanagement@dbs.com) and Goldman Sachs (Asia) LLC (+852 2978 1162, aej_syndicate@gs.com) are the dealer managers for the tender offer.
Morrow Sodali Ltd. (+44 20 4513 6933, +852 2319 4130, lenovo@investor.morrowsodali.com, https://projects.morrowsodali.com/lenovo) is the tender and information agent.
Lenovo is a Hong Kong-based technology company.
© 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.