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Prospect News home > News index > List of issuers T > Headlines for Tenders 2004 > News item |
Tender for Grohe's 11½% notes extended to July 13
New York, July 12 - The tender for Grohe AG's 11½% senior notes due 2010 was extended to 12 p.m. ET on July 13 from 12 p.m. ET on July 9.
As of the old expiration deadline, holders had tendered 97.02% of the notes.
At the last announcement on July 7, the tender price for the notes was set at €1,167.70 per €1,000 principal amount for holders who tendered by the consent deadline of 4 a.m. ET on June 15.
Holders who tender after that date but before the expiration will receive the same amount less the €20 consent payment or €1,147.70 per €1,000 principal amount.
The prices were calculated using a fixed spread of 50 basis points over the yield to maturity of the 6.5% German Bundesanleihe due Oct. 14, 2005 at 9 a.m. ET on July 7. At that time the reference yield was 2.363%.
Holders will also receive accrued interest.
The tender offer is being conducted by Glacier Erste Beteiligungs GmbH (formerly Saphir 45. VV GmbH), a company formed by Texas Pacific Group and DLJ Merchant Banking Partners to acquire Grohe.
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