Carter Holt Harvey tenders for any and all 8 3/8%, 9½% debentures

By Jennifer Chiou

New York, July 21 - Carter Holt Harvey Ltd. announced the start of a cash tender offer for any and all of its $150 million of 8 3/8% debentures due 2015 and $150 million of 9½% debentures due 2024.

The Auckland, New Zealand-based forest products company is also soliciting consents to amend the note indentures, eliminating the principal restrictive covenants, certain events of default and other provisions.

The consent deadline is 5 p.m. ET on Aug. 8.

The company said it will pay par in the offer, which includes a $30.00 per $1,000 principal amount consent payment for those who tender by the early deadline.

The offer expires at 5 p.m. ET on Aug. 18.

Carter Holt Harvey said it will also pay accrued interest up to the payment date.

Credit Suisse Securities (USA) LLC is the dealer manager and solicitation agent (call collect 212 325-7596 or 800 820-1653). The tender agent is D.F. King & Co., Inc. (800 714-3312 or call collect 212 269-5550).

© 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.