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Daily Mail accepts tenders for £110.06 million 7½% bonds, waives cap
By Susanna Moon
Chicago, Dec. 7 - Daily Mail and General Trust plc said it accepted all of the tendered £110.06 million of 7½% bonds due 2013 after waiving the maximum tender amount.
The offer ended at 11 a.m. ET on Dec. 6, and settlement is scheduled for Dec. 9. The offer began on Nov. 29.
Daily Mail previously said that it would tender for up to £75 million of its £156.5 million of 7½% bonds.
As previously noted, the company will pay £10,550 per £10,000 principal amount plus accrued interest.
Daily Mail said that the goal of the offer was to reduce debt.
The acquired bonds will be canceled.
The dealer manager was Royal Bank of Scotland plc (+44 20 7085 5991; attn: Liability Management Group at liabilitymanagement@rbs.com). The tender agent was Lucid Issuer Services Ltd. (+44 20 7704 0880; attn: Thomas Choquet/Paul Kamminga at dmgt@lucid-is.com).
The London-based media company originally issued £300 million of the bonds.
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