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Singapore's BW Group holders tender $306.12 million 6 5/8% notes
By Angela McDaniels
Tacoma, Wash., Feb. 12 - BW Group Ltd. received tenders for $306,122,000 principal amount, or 61.22%, of its $500 million 6 5/8% notes due 2017, according to a company news release.
The amount tendered includes $20 million of notes held by the company.
The tender offer began Jan. 13 and ended at 11:59 p.m. ET on Feb. 10. On Jan. 28, the early tender date was extended to 5 p.m. ET on Jan. 30 from 5 p.m. ET on Jan. 27.
The company had received tenders for $300.87 million, or 60.17%, of the notes as of original early tender date and $301.78 million, or 60.36%, of the notes as of the amended early tender date.
The payment is $1,060 per $1,000 principal amount of notes, which includes an early tender premium of $30 for those who tendered prior to the early tender date.
Holders will also receive accrued interest up to but excluding the settlement date, which was Feb. 7 for early tendered notes and will be no later than Feb. 18 for the remaining tendered notes.
The dealer manager was HSBC Corp. Ltd. (888 HSBC-4LM, 852 2822 4100, 44 20 7992 6237, 212 525-5552 or liability.management@hsbcib.com). The information and tender agent was Bondholder Communications Group, LLC (888 385-2663, 44 20 7832 4580, 212 809-2663 or bwalker@bondcom.com).
BW is a Singapore-based maritime group. Its subsidiaries operate in the tanker, gas and offshore sectors.
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