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Guangdong Hong Kong Greater Bay says 80.31% of notes tendered so far
By Mary-Katherine Stinson
Lexington, Ky., Oct. 7 – Guangdong-Hong Kong Greater Bay Area Holdings Ltd. said $235.72 million of its 14% senior notes due 2021 (ISIN: XS2084960009) have been validly tendered at 11 a.m. ET on Oct. 6.
Noteholders were encouraged to tender their notes by the 11 a.m. ET Oct. 7 deadline.
This represents 80.31% of the aggregate principal amount of the notes, according to a company release.
The exchange offer had been extended from the original deadline of Oct. 4.
Settlement is planned for Oct. 12.
As previously reported, a Sept. 23 announcement stated the company was offering to exchange $1,000 of existing notes for $1,000 of new two-year notes plus a redemption premium of $21.80 and accrued interest.
This exchange offer is open to Regulation S noteholders and the notes could not be withdrawn once they were submitted.
Haitong International, Guoti Junan International and Potomac Capital Ltd. are the dealer managers.
D.F. King (+44 20 7920, +852 3953 7231, young@dfkingltd.com, https://sites.dfkingltd.com/youngo) is the information and exchange agent.
The state-owned investment holding company is based in Guangdong, China.
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