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Turkiye Sise gets $200.08 million tenders so far, extends deadline
By Sarah Lizee
Olympia, Wash., March 15 – Turkiye Sise ve Cam Fabrikalari AS said it has received tenders for $200.08 million of its $500 million 4¼% notes due 2020 as of 5 p.m. ET on March 14, according to an update from the company.
The company decided to increase the maximum tender amount to $200.08 million from $50 million.
In addition, the early tender deadline and withdrawal time for the offer was extended to 11:59 p.m. ET on March 28 from 5 p.m. ET on March 14 previously.
The company was originally tendering for up to $50 million of the notes in an offer that is still scheduled to expire 11:59 p.m. ET on March 28.
As previously reported, the notes are partially and severally guaranteed by Trakya Cam Sanayii AS, Soda Sanayii AS and Anadolu Cam Sanayii AS.
The total purchase price will be $1,000 per $1,000 principal amount of notes tendered by the early deadline.
The total amount includes an early tender premium of $30 per $1,000 principal amount.
Holders will also receive accrued interest up to but excluding the settlement date, April 1.
Tenders may be withdrawn before the early deadline.
The company is holding the tender offer to acquire some of the outstanding notes, according to a company announcement.
Along with the tender, the company plans to issue new notes with some of the proceeds expected to fund the offer.
The dealer managers are Citigroup Global Markets Ltd. (212 723-6106, 800 558-3745, +44 20 7986 8969 or liabilitymanagement.europe@citi.com) and J.P. Morgan Securities plc (+44 20 7134 2468 or em_europe_lm@jpmorgan.com).
The information and tender agent is Citibank, NA, London Branch (+44 20 7508 3867 or exchange.gats@citi.com).
Turkiye Sise manufactures and sells glass and is based in Istanbul.
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