South Africa's Peermont Global buys back €103.93 million of 7¾% notes

By Angela McDaniels

Tacoma, Wash., April 30 - Peermont Global (Pty) Ltd. has purchased €103.93 million principal amount of its €520 million 7¾% senior secured notes due 2014, according to a company notice filed with the Irish Stock Exchange.

Of the €103.93 million repurchased, €86.93 million of the notes were repurchased under the company's previously announced modified Dutch auction tender offer for a portion of the notes. Peermont said it acquired the remaining €17 million of notes through an open market repurchase.

All purchased notes will be cancelled. Following the cancellation, €416.07 million of the notes will remain outstanding.

Peermont is a South African gaming and lodging firm.

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