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Singapore’s CW Group holds one-month tender for S$17 million 7% notes
By Susanna Moon
Chicago, Sept. 12 – CW Group Holdings Ltd. announced a tender offer for up to S$17 million of the S$75 million 7% notes due 2018 issued by an indirect wholly owned subsidiary, CW Advanced Technologies Pte. Ltd.
The offer will run for about a month until 5:30 a.m. ET on Oct. 3, and the purchase price will be 95% of par, or S$237,500 for each S$250,000 principal amount, plus accrued interest up to but excluding settlement on Oct. 6.
The notes were issued under the S$500 million multi-currency debt issuance program established by the company, CW Advanced Technologies Ltd. and the issuer and guaranteed by the company, according to a company announcement.
The capped offer will give priority on a “first in time” basis, according to the notice.
The issuer may decide to increase the maximum acceptance amount.
DBS Bank Ltd. is the dealer manager. Tricor Singapore Pte. Ltd., trading as Tricor Barbinder Share Registration Services, is the tender agent.
CW Group is a Singapore-based provider of precision engineering solutions and manufacturer of machine tools. Its production facilities are in China.
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