Intergas wraps oversubscribed offer for its $60 million 6 3/8% notes

By Jennifer Chiou

New York, Feb. 5 - JSC Intergas Central Asia announced that it accepted $60 million of notes in its oversubscribed cash offer to repurchase up to $60 million of its $600 million of 6 3/8% notes due 2017 of Intergas Finance BV.

Notes will be accepted on a pro rata basis.

The modified Dutch auction offer ended at 11 a.m. ET on Feb. 4. It began at Jan. 28.

For each $1,000 principal amount, the company said it will pay $700. It previously stated that the minimum purchase price would be $650 while the maximum would be $700.

Because more than $60 million of notes were tendered, the company said it will purchase about 35% of notes tendered at the above purchase price. It added that it will purchase all of the notes tendered at prices below the $700 repurchase price.

The company also said that it will also pay accrued interest.

The settlement date is slated for Feb. 10.

The cash payment required to purchase the notes is $42.91 million, including accrued interest.

The repurchased notes will be canceled.

Royal Bank of Scotland plc was the dealer manager (44 20 7085 8056). Lucid Issuer Services Ltd. was the tender agent (44 20 7704 0880).

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