Fiji ends tender offer, accepts $243.15 million 9% notes for purchase

By Angela McDaniels

Tacoma, Wash., Sept. 22 – Fiji announced the early closure of the tender offer for its $250 million of 9% notes due 2016.

Holders had tendered $243.15 million, or 97.26%, of the notes as of 5 a.m. ET on Sept. 22, according to a company news release.

All of the tendered notes have been accepted for purchase. The settlement date is expected to be Oct. 2.

The offer began Sept. 7 and had been scheduled to continue until Oct. 9.

The republic offered par for the notes. Holders who tendered by 5 a.m. ET on Sept. 18 will also receive an early tender premium of $25 per $1,000 principal amount of notes.

The republic will also pay accrued interest up to but excluding the settlement date.

Australia and New Zealand Banking Group Ltd. (AsiaBondSyndicate@anz.com) was the dealer manager. Lynchpin Bondholder Management (fijiinfo@lynchpinbm.com) was the tender agent.

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