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China’s CAR launches tender offer for 9¾% senior notes due 2024
Chicago, Feb. 21 – CAR Inc. started a capped tender offer for up to $100 million of its $250 million outstanding 9¾% senior notes due 2024 (ISIN: XS2293887035), according to an announcement on Monday.
The company is offering a par purchase price plus interest.
Tenders may be prorated.
The offer will expire at 11 a.m. ET on Feb. 27.
Settlement is expected for March 2.
Through the tender offer, the company is aiming to proactively manage its liability and optimize its debt structure, while maintaining a prudent level of liquidity.
Goldman Sachs (Asia) LLC is the dealer manager (+852 2978 0604, +852 2978 1162, CAR_Tender@hk.email.gs.com).
Morrow Sodali Ltd. is the information and tender agent (+44 20 4513 6933, +852 2319 4130, carinc@investor.morrowsodali.com, https://projects.morrowsodali.com/CARInc).
CAR is a Chaoyang, China-based car rental and used car company.
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