Corus Group starts change-of-control tender for €800 million 7½% notes

By Laura Lutz

Des Moines, May 2 - Corus Group plc announced a change-of-control tender offer for all of its €800 million outstanding principal amount of 7½% senior notes due 2011.

For each €1,000 principal amount of notes, the company will pay €1,023.75, equal to 101% of the principal amount plus accrued interest.

The company will repurchase the notes on June 7.

The tender offer is being conducted following the company's acquisition by Tata Steel Ltd.

The offer will expire at noon ET on June 1.

Corus Group is a London-based metals group that manufactures, processes and distributes steel and aluminum products.

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