Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers K > Headlines for KazAgro National Management Holding > News item |
KazAgro begins tender offer, consent bid for 4 5/8% notes due 2023
By Marisa Wong
Morgantown, W.Va., Jan. 23 – JSC KazAgro National Management Holding is inviting holders of its outstanding $1 billion 4 5/8% notes due 2023 to tender any and all of the notes for purchase for cash, according to a press release.
The company is also asking holders to consent to changes to the 2023 notes. The proposed amendments would provide for mandatory early redemption of the notes.
The offer expires at 5 a.m. ET on Feb. 20.
Holders who tender by the early participation deadline at 11:59 a.m. ET on Feb. 4 are eligible to receive an early tender premium of $20 per $1,000 principal amount for a total consideration of $1,020 per $1,000 principal amount. The early tender premium is equal to the consent fee, the issuer noted.
Settlement is slated for Feb. 25.
Citigroup Global Markets Ltd. (attn.: liability management group, +44 20 7986 8969, liabilitymanagement.europe@citi.com) is the dealer manager for the offers. Citibank, NA, London Branch (attn.: LM Team – Agency and Trust, +44 20 7508 3867, citiexchanges@citi.com) is the tender and tabulation agent.
KazAgro supports government grain reserves, provides loans and invests in financial leasing in the agricultural sector. The issuer is based in Astana, Kazakhstan.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.