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Malaysia’s Parkson tenders for $484.5 million of 4˝% notes due 2018
By Susanna Moon
Chicago, Jan. 9 – Malaysia's Parkson Retail Group Ltd. began a tender offer for its $484.5 million of outstanding 4˝% notes due 2018.
The purchase price will be par plus accrued interest to but excluding the settlement date, or $1,010.75 for each $1,000 principal amount.
The tender offer will remain open until 4 a.m. ET on Jan. 19.
Settlement has been set for Jan. 29.
The offer is contingent on the company obtaining a term loan to finance the purchase, according to an announcement.
J.P. Morgan Securities (Asia Pacific) Ltd. (+852 2800 7669 or +852 2800 8780) is the dealer manager. D.F. King Ltd. (+852 3953 7230, +44 20 7920 9700, parkson@dfkingltd.com or https://sites.dfkingltd.com/parkson) is the information and tender agent.
The issuer sold $500 million of the notes on May 3, 2013.
Parkson Retail is a department store company based in Selangor, Malaysia.
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