Drawbridge gives results for tender offer for 5% notes due 2021

By Rebecca Melvin

New York, Jan. 26 – Drawbridge Special Opportunities Fund LP and subsidiary Drawbridge Special Opportunities Finance Corp. announced the results of a cash tender offer for any and all of their $324.6 million 5% notes due 2021, according to a press release.

As of the expiration, a total of $312,701,000 principal amount of the 2021 notes had been validly tendered. The co-issuers have accepted for purchase all of the notes that were tendered and paid the offer consideration of $1,022.55 per $1,000 principal amount, plus interest.

The offer was conditioned upon an issuance of new notes with proceeds of at least $340 million and those proceeds are being used to redeem the notes.

The co-issuers expect to issue a notice of redemption for the remaining 2021 notes not validly tendered before the expiration of the tender.

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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