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Prospect News home > News index > List of issuers T > Headlines for Tenders 2005 > News item |
Washington Mutual says $817.68 million 0% Providian convertibles tendered
New York, Nov. 22 - Washington Mutual, Inc. said $817.679 million principal amount of the zero-coupon convertible notes due 2021 of its subsidiary New American Capital, Inc. were validly tendered before the Monday deadline in its cash tender offer.
The notes were originally issued by Providian Financial Corp. and were assumed by New American when it acquired Meridian on Oct. 1.
Washington Mutual paid a total of $447.335 million to buy the convertibles.
The deadline to tender was 5 p.m. ET on Nov. 21.
A tender offer for the 4% convertible senior notes due 2008 expired Nov. 4 with $5,000 principal amount of the notes validly tendered.
A tender offer for the 2¾% convertible cash-to-accreting senior notes due 2016 expired Nov. 2 with $28.953 million principal amount of the notes validly tendered.
The tender offers were required under the change-of-control provisions in the note indentures.
J.P. Morgan Trust Co., NA was paying and information agent.
Washington Mutual is a Seattle-based financial services retailer.
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