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Times China accepts tenders of $207.83 million 6¼% notes due 2021
By Taylor Fox
New York, Sept. 23 – Times China Holdings Ltd.’s tender offer of 6¼% notes due 2021 (ISIN: 1749435324) expired at 11 a.m. Sept. 22 with a total of $207,833,000, or 41.57%, of the notes validly tendered, according to a notice.
The maximum acceptance amount was $350 million, and the company will accept for purchase the full amount tendered.
The purchase price is $1,008 per $1,000 of notes. Holders will also receive accrued interest.
Times China will pay a purchase price of $209,495,664 for all notes and interest of $11.805556 per $1,000.
The tendered notes will be canceled at settlement.
Following the settlement, $292,167,000 of the notes will remain outstanding.
The dealer managers are UBS AG Hong Kong Branch, Credit Suisse (Hong Kong) Ltd., Deutsche Bank AG, Singapore Branch and CLSA Ltd.
The information and tender agent is D.F. King Ltd. (+44 20 7920 9700, +852 3953 7208; times@dfkingltd.com).
Times China is a property development holding company based in Guangzhou, China.
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