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Barbados begins tender offer for $250 million of 7¼% notes, 7% notes
By Susanna Moon
Chicago, Sept. 23 - The Government of Barbados said it began a 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 end at 11:59 p.m. on Sept. 30.
The purchase price per $1,000 principal amount will be $980 for the 7¼% notes and $960 for the 7% notes, according to a government press release.
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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