Hong Kong's Road King begins cash tender offers for 2011, 2012 notes

By Marisa Wong

Madison, Wis., Sept. 13 - Road King Infrastructure Ltd. said it started a cash tender offer for its outstanding $200 million 6¼% guaranteed notes due 2011 and its outstanding $150 million senior floating-rate notes due 2012.

Holders will be able to tender the notes for purchase for a cash consideration to be determined by the issuer of up to 50% of the combined principal amount of the 2011 and 2012 notes.

The offers began on Sept. 13 and will expire at noon ET on Sept. 28, unless extended, amended or terminated by the issuer.

The amount payable for the existing notes validly tendered and accepted will be determined by a modified Dutch auction. The issuer will also pay any accrued interest on the accepted notes.

The total principal amount of the notes to be accepted and the purchase price will be announced on Oct. 4.

The offers are expected to settle on Oct. 6.

J.P. Morgan is dealer manager for the offers.

Based in Hong Kong, Road King Infrastructure is an investment holding company. The principal activities of the company and its subsidiaries are the investment, development, operation and management of toll roads in the People's Republic of China.

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