Jollibee takes in $203.13 million early tenders of perpetuals

By Wendy Van Sickle

Columbus, Ohio, Oct. 21 – Philippines-based Jollibee Worldwide Pte. Ltd., a wholly owned subsidiary of Jollibee Foods Corp., received and accepted early tenders of $203,134,000 of notes in its cash tender offer for up to $250 million of its $600 million guaranteed senior perpetual capital securities (ISIN: XS2099563228), according to a notice.

As announced on Oct. 4, Jollibee offered $1,016.25 per $1,000 note for holders who tender by the early deadline, 11 a.m. ET on Oct. 18, which was also the withdrawal deadline. Holders who tender their notes after the early deadline will receive only par.

Investors will also receive accrued distributions to the relevant settlement date.

The early settlement date was Oct. 21.

Tenders may be subject to proration. Following the early settlement, $396,866,000 of the notes are outstanding.

The offer expires at 11 a.m. ET on Nov. 3.

Settlement is planned for Nov. 8.

Australia and New Zealand Banking Group Ltd. (+65 6708 0311), BPI Capital Corp. (fax: +632 8246 6004), Citigroup Global Markets Ltd. (+44 20 7986 9050, liabilitymanagement.asia@citi.com) and Credit Suisse (Hong Kong) Ltd. (fax: +852 2284 7184) are the dealer managers.

Morrow Sodali Ltd. is the information and tender agent (+44 20 4513 6933, +852 2319 4130, jollibee@investor.morrowsodali.com, https://bonds.morrowsodali.com/jollibee).

The multinational chain of fast-food restaurants is based in Pasig, Philippines.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.