Thailand's Advance Agro starts tender, solicitation for 11% notes

By Jennifer Chiou

New York, Nov. 20 - Advance Agro PCL announced the launch of a cash tender offer for up to $73.5 million of its $144,055,000 of 11% senior notes due 2012.

The Bangkok-based paper and pulp producer is also soliciting consents to amend the note indenture. Those who tender must deliver consents.

The modified Dutch auction will end at 5 p.m. ET on Dec. 16. The consent deadline is 5 p.m. ET on Dec. 2.

For each $1,000 principal amount, the company said it will accept tender bids in the range of $985 to $1,000, including a $5 consent fee for those who tender by the early deadline.

Advance Agro said that $250 million of the notes was issued on Dec. 19, 2005.

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