Mexico’s Javer extends, cuts offer price in tender for $136 million 9 7/8% notes

By Wendy Van Sickle

Columbus, Ohio, Dec. 18 – Servicios Corporativos Javer, SAB de CV reduced the consideration offered in and extended its tender offer for up to $136 million principal amount of its outstanding 9 7/8% senior notes due April 6, 2021.

The tender offer had been set to expire at midnight ET on Dec. 28, with an early deadline slated for Dec. 18. The offer has been extended through midnight ET on Jan. 29, with the early deadline pushed to 5 p.m. ET on Jan. 8.

The total consideration for notes tendered by the early deadline was decreased to $1,065 per $1,000 principal from $1,070 per $1,000 principal amount. Those figures include a $30 early tender premium.

Holders who tender their notes after the early deadline will receive the total amount less the early premium.

The company also will pay accrued interest.

Tendered notes may be withdrawn at any time before the new early deadline.

The early settlement date is expected to be Jan. 19.

As of Dec. 17, $230,039,000, or 77.9%, of the notes had been tendered.

Credit Suisse Securities (USA) LLC (212 538-2147 or 800 820-1653) is the dealer manager. D.F. King & Co., Inc. (866 340-7108 or 212 269-5550) is the tender agent and information agent.

Javer is a privately owned housing development company based in Monterrey, Mexico.

© 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.