Helios opts for full redemption, not tender offer for 9 1/8% notes

By Rebecca Melvin

New York, June 9 – HTA Group, Ltd., an indirect wholly owned subsidiary of Helios Towers plc, is canceling a cash tender offer for up to $325 million principal amount of its 9 1/8% senior notes due 2022 (ISINs: XS1572144464, US40435WAA80) and opting instead for a conditional redemption, according to a notice on Tuesday.

The company launched the tender offer on Monday concurrently with an offering of new notes, which were expected to be used to fund the tender offer.

Subsequently, it was determined that the proceeds of the new notes would be sufficient to redeem all of the issue of which there is $600 million outstanding.

The redemption price of the notes is 102.281 plus accrued interest. The redemption is subject to the completion of the new notes issuance. The existing notes were originally issued on March 8, 2017.

The new notes are guaranteed on a senior basis by the company and certain direct and indirect subsidiaries. They are expected to price on or around June 9.

Helios Towers Nigeria is a telecom tower company based in Lagos, Nigeria.

© 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.