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Cable & Wireless holders tender £63.1 million 8 5/8% bonds due 2019
By Sarah Lizee
Olympia, Wash., Oct. 29 – Cable & Wireless Communications Ltd. wholly owned subsidiary Cable and Wireless International Finance BV said holders had tendered £63.1 million of its £200 million outstanding 8 5/8% guaranteed bonds due March 25, 2019, according to a press release.
The offer expired at noon ET on Oct. 26.
As previously reported, the company began the tender offer to repurchase for cash any and all of the bonds for a total consideration of £10,300 per £10,000 principal amount plus accrued interest to the payment date, which is expected to be Oct. 31.
In an earlier release, Cable & Wireless said it has repurchased but not canceled £53.3 million of the outstanding Regulation S bonds. The parent company did not participate in the offer.
BNP Paribas (+44 20 7595 8668, attn.: liability management group, liability.management@bnpparibas.com) is the dealer manager for the tender offer.
Lucid Issuer Services Ltd. (+44 20 7704 0880, attn.: Thomas Choquet, cwc@lucid-is.com) is the tender agent.
Cable & Wireless is a London-based diversified communications company with operations primarily in the Caribbean.
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