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Barbados extends tender for $250 million of 7¼%, 7% notes by one day
By Susanna Moon
Chicago, Oct. 1 - The Government of Barbados said it extended the tender offer to purchase up to $250 million of its 7¼% notes due Dec. 15, 2021 and its 7% notes due Aug. 4, 2022.
The tender offer will now end at 11:59 p.m. on Oct. 1, extended from 11:59 p.m. on Sept. 30. The offer began Sept. 23.
As of the original expiration date, holders had tendered $57,538,000 of the 7¼% notes and $86,223,000 of the 7% notes, according to a press release.
As previously announced, the purchase price per $1,000 principal amount will be $980 for the 7¼% notes and $960 for the 7% notes.
Holders also will receive accrued interest up to but excluding the settlement date, which is expected to be Oct. 8.
Funding for the offer will come from the government's issue of amortizing notes due 2025 through a private placement under Rule 144A and Regulation S.
The tender offer is not conditioned upon any minimum amount of tenders.
For information call D.F. King & Co., Inc. at 800 769-7666 or, for banks and brokers, collect at 212 269-5550 or reach them by email at barbados@dfking.com.
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