Drawbridge announces tender offer for any and all 5% notes due 2021

By Cady Vishniac

Detroit, Jan. 19 – Drawbridge Special Opportunities Fund LP and subsidiary Drawbridge Special Opportunities Finance Corp. have launched a cash tender offer for any and all of their 5% notes due 2021, according to a press release.

The notes will be repurchased at $1,022.55 per $1,000 principal amount, plus interest.

The offer will expire at 5 p.m. ET on Jan. 25. Holders may also complete a notice of guaranteed delivery by the expiration time and deliver their notes by 5 p.m. ET on Jan. 27.

Settlement is expected on Jan. 28.

The offer is conditioned upon an issuance of new notes with proceeds of at least $340 million. Any of the 2021 notes not purchased in the tender offer will be redeemed after its conclusion.

Wells Fargo Securities, LLC (866 309-6316, 704 410-4756, liabilitymanagement@wellsfargo.com.) is the dealer manager for the offer. Global Bondholder Services Corp. (212 430-3774, 866 470-4500, contact@gbsc-usa.com, https://www.gbsc-usa.com/drawbridge) is the tender agent and information agent.

Drawbridge is a partner and general affiliate of Fortress Investment Group LLC, a New York-based investment partnership.

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