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New World Development starts tender offer for 4 3/8% notes
Chicago, June 8 – NWD (MTN) Ltd. started a tender offer on Wednesday relating to its $950 million outstanding 4 3/8% guaranteed notes due 2022 (ISIN: XS1318014831), according to an offer memo.
The notes are guaranteed by New World Development Co. Ltd.
The notes will be purchased at $1,005 per $1,000 note, plus interest to the settlement date.
The offer expires at 11 a.m. ET on June 17.
There will be a cap, but the final acceptance amount will not be announced until around June 20 when the results are announced.
Settlement will be on June 21.
Instructions are irrevocable.
Tenders may be prorated.
Separately, the company announced that it will be selling new dollar-denominated guaranteed notes.
The joint dealer managers for the offer are HSBC Ltd. and UBS AG Hong Kong Branch.
Morrow Sodali Ltd. is the information and tender agent (+44 20 4513 6933, +852 2319 4130, nwd@investor.morrowsodali.com, https://projects.morrowsodali.com/nwd).
New World Development is a Hong Kong-based conglomerate.
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