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Muang Thai Life starts tender offer for up to $100 million 2037 notes
By Marisa Wong
Los Angeles, July 3 – Muang Thai Life Assurance PCL is inviting holders of its outstanding $400 million fixed-rate reset subordinated notes due 2037 (ISIN: XS2396503505) to tender their notes for purchase for cash, according to a notice.
The company is offering to purchase up to $100 million of the notes at 88.75, plus accrued interest.
Tenders may be subject to proration.
The offer expires at 11 a.m. ET on July 7.
Results will be announced on July 10.
Settlement is slated for July 13.
Merrill Lynch (Singapore) Pte. Ltd. (+852 3508 3514 / +44 20 7996 5420; dg.dcm_sea@bofa.com / DG.LM-EMEA@bofa.com) is the dealer manager.
Kroll Issuer Services Ltd. (+852 2281 0114 / +44 20 7704 0880; muangthai@is.kroll.com) is the tender agent.
The insurance company is based in Thailand.
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