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Helios Towers begins tender offer for up to $325 million 9 1/8% notes due 2022
Chicago, June 8 – HTA Group, Ltd., an indirect wholly owned subsidiary of Helios Towers plc, launched a cash tender offer for up to $325 million principal amount of its $600 million outstanding of its 9 1/8% senior notes due 2022 (ISINs: XS1572144464, US40435WAA80), according to a notice.
The notes were originally issued on March 8, 2017.
Offer considerations
An early tender payment of $22.81 per $1,000 face amount of notes will be paid to noteholders who validly tender their notes, and the notes are accepted for purchase, by 5 p.m. ET on June 19.
The total consideration, including the early tender consideration, is $1,022.81 per $1,000 principal amount of notes. The tender offer consideration is $1,000 per $1,000 principal amount of notes.
Interest up to, but not including, the relevant settlement date will also be paid.
The early tender deadline is 5 p.m. ET on June 19.
The tender offer will expire at 11:59 p.m. ET on July 6.
Early settlement is expected for June 23, and the final settlement date is planned for July 8.
New offering
The tender offer is being made in connection with a new note offering. Priority of acceptance in the tender offer will be granted to investors who subscribe for new notes.
The new notes are expected to price on or around June 9.
Should the proceeds of the new offering be enough to finance a full optional redemption of the notes, the company plans to redeem the notes at 102.281 and cancel the tender offer.
Tender offer details
Merrill Lynch International (+44 20 7996 5420, DG.LM-EMEA@bofa.com), J.P. Morgan Securities plc (+44 20 7134 2468, em_europe_lm@jpmorgan.com) and Standard Bank of South Africa Ltd. (27 11 721 6653, LiabilityManagement@standardsbg.com) are the dealer managers for the tender offer.
Lucid Issuer Services Ltd. (+44 20 7704 0880, hta@lucid-is.com) is the information and tender agent
Helios Towers Nigeria is a telecom tower company based in Lagos, Nigeria.
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