Simpar Europe to issue new notes related to tender offer

By Cady Vishniac

Detroit, Jan. 11 – Simpar SA finance subsidiary Simpar Europe plans to issue new notes to fund a tender offer, according to a press release.

The issuer is conducting an any-and-all offer for its $625 million outstanding of its 7¾% notes due 2024.

As part of the tender offer, holders who do not wish to be paid in cash may also exchange their old notes for consideration consisting of the new issue at any time between 5 p.m. ET on Jan. 15.

Simpar is a Sao-Paulo based holding company with subsidiaries operating in the insurance, freight, vehicle trade and property management sectors. Simpar Europe is its Luxembourg-based finance subsidiary.

© 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.