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Malaysia's Puncak Niaga holders put 94.26% of outstanding notes, remainder called
By Marisa Wong
Madison, Wis., Oct. 21 - Puncak Niaga Holdings Bhd. announced that holders of 515,488,256, or 94.26%, of its outstanding 15-year redeemable unconvertible notes exercised their put option on Oct. 18.
Settlement of the put option exercise will occur on Nov. 18.
The company said it called the remaining 31,386,744, or 5.74%, of outstanding notes that were not put on Oct. 18. These notes will also be redeemed on Nov. 18.
Puncak Niaga issued RM 546,875,000 of the notes in November 2001. Following the Nov. 18 redemptions, all outstanding notes will be canceled and will no longer be listed on Bursa Malaysia Securities Bhd., effective Nov. 21.
Based in Shah Alam, Malaysia, Puncak Niaga is a holding company that specializes in water treatment.
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