Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Tenders > Headlines for 2023 > News item |
Interchile ups purchase price in tender offer for 4½% bonds
By Mary-Katherine Stinson
Lexington, Ky., Oct. 30 – Interchile SA upped the purchase price in the capped tender offer for its $1.2 billion outstanding 4½% senior secured notes due 2056 (Cusips; 45846AAA8, P5R70LAA9), according to a press release.
The consideration has been increased to $750 per $1,000 bond plus accrued interest to the settlement date. This revised consideration will be applied through the duration of the offer.
The aggregate purchase price is capped at $160 million.
As of the early deadline of 5 p.m. ET on Oct. 27, the company had received tenders from holders representing $78,832,000 principal of the notes.
All these notes have been accepted for purchase at the revised tender consideration.
Previously, the company made detailed changes to its formula, resulting in a tender offer consideration of $719.95 per $1,000 bond, inclusive of a $50 early tender consideration that would have only been paid to noteholders tendering by the early deadline, though that is no longer relevant.
That tender consideration was based on the 4 3/8% U.S. Treasury due Aug. 15, 2043 with a 180 basis points fixed spread.
Pricing was set on Oct. 27.
The withdrawal deadline was the same as the early tender deadline. Tenders are now irrevocable.
The offer expires at 5 p.m. ET on Nov. 14.
The early settlement date is Oct. 31, and the final settlement date is Nov. 15.
Tenders may be prorated.
D.F. King & Co. (interchile@dfking.com, 212 269-5550 or 800 967-5019) is the information and tender agent.
J.P. Morgan Securities LLC (866 846-2874 or 212 834-7279) is the dealer manager.
The infrastructure construction services company is based in Santiago, Chile.
© 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.