Minor International launches tender offer for perpetual securities

Chicago, July 9 – Minor International PCL launched a cash tender offer for any and all of its $300 million outstanding guaranteed senior perpetual securities (ISIN: XS1912662183), according to an announcement.

Tendering noteholders will receive 101.748. Should more than 75% of the notes be tendered, the purchase price will be increased to 101.898.

An accrued distribution payment will also be paid.

The issuer is conducting the tender offer to optimize its balance sheet structure and plans to use a portion of the proceeds from a concurrent new money issuance to finance the tender offer.

The tender offer is conditioned on the new securities.

Priority in allocation for the new notes may be given to investors who participate in the tender offer.

If the issuer repurchases 75% of more of the principal amount of existing securities, the issuer intends to issue a clean-up call for the remainder.

Tender instructions should be delivered by 11 a.m. ET on July 15.

Settlement is planned for July 19.

HSBC Ltd. is the dealer manager (+852 3941 0223, +44 20 7992 6237, liability.management@hsbcib.com).

Morrow Sodali Ltd. is the tender and information agent (+44 20 8089 3287, +852 2319 4130, minor@investor.morrowsodali.com, https://bonds.morrowsodali.com/minor).

Based in Bangkok, Minor is a multinational corporation that focuses on hospitality, restaurants and lifestyle distribution.

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