Seminole Tribe takes in tenders for $64.27 million of 6.535% bonds

New York, Aug. 7 – The Seminole Tribe of Florida received tenders for $64,265,000, or 36.73%, of its $174.97 million of 6.535% series 2005B gaming division bonds due 2020 by the early deadline, according to a press release.

Settlement of early tenders was planned for Monday.

Seminole Tribe began the tender on July 24, saying it was offering to buy up to $100 million of the bonds.

The issuer is offering a total consideration of $1,021.25 per $1,000 principal amount of the bonds.

The total consideration includes a $30.00 early tender premium per $1,000 principal amount for notes tendered by the early deadline, 5 p.m. ET on Aug. 4.

Holders who tender after the early deadline will receive $991.25 per $1,000 principal amount.

The issuer will also pay accrued interest to but excluding the settlement date.

The offer will expire at midnight ET on Aug. 18.

If the maximum tender amount is exceeded, tendered bonds will be accepted on a prorated basis.

The offer is not subject to any minimum tender condition.

BofA Merrill Lynch (888 292-0070 or 980 388-3646) is the dealer manager. Global Bondholder Services Corp. (866 470-4300 or 212 430-3774) is the information agent.

© 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.