CFG prices, upsizes, extends offers to redeem, purchase notes due 2032

By Wendy Van Sickle

Columbus, Ohio, April 3 – CFG Investment SAC announce the initial results, pricing and upsizing of its offer to redeem for cash its variable-rate senior secured notes due 2032 and purchase for cash its 10% second-lien notes due 2032 that was announced on March 13.

The company said that at 11 a.m. ET on March 31 it had received tenders of $26,639,865 principal amount of its $150 million variable-rate notes and accepted $8,337,632 of those notes for a redemption value of 135.

Of the $288,831,454 outstanding 10% second-lien notes (ISINs: XS2550128271, XS2550128438), it had received tenders for $112,821,212 principal amount and accepted $32,800,629 of notes at a clearing price of 80.

CFG originally announced it would purchase up to $40 million maximum principal amount of notes, but the company said in a news release Monday it is now offering to purchase up to an additional $20 million principal amount of the notes to bring the maximum payment amount up to $61,138,261, including the initial settlement amount.

The expiration of the offers has been extended to 11 a.m. ET on April 14. Settlement is expected on April 19.

Once tendered, notes may not be withdrawn.

Kroll Issuer Services Ltd. (+44 20 7704 0880 or cfg@is.kroll.com) is the tender agent.

China Fishery is a Hong Kong-based manager and operator of fishing vessels for coastal and deep-sea industrial fishing. CFG is a company incorporated under the laws of Peru.

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