| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers M > Headlines for Montenegro > News item |
Montenegro begins tender for up to 400 million of three note series
By Susanna Moon
Chicago, April 5 The State of Montenegro is tendering through its ministry of finance for up to 400 million of its 280 million of 5 3/8% notes due 2019, 500 million of 3 7/8% notes due 2020 and 300 million of 5Ύ% notes due 2021.
The purchase price for each 1,000 principal amount will be 1,053.75 for the 2019 notes, 1,050 for the 2020 notes and 1,110 for the 2021 notes.
The issuer will also pay accrued interest.
The tender offer will end at 11 a.m. ET on April 11.
The offers are intended to proactively manage the issuer's upcoming debt redemptions and to extend the debt maturity profile of the issuer, according to an announcement.
The issuer also plans to issue new notes, with some of the proceeds to be used to fund the tender offer.
The issuer is planning to accept for purchase up to 400 million principal amount of the notes but reserves the right to accept significantly less or more than that amount.
The issuer said it also will determine the allocation of the final acceptance amount between each series.
Settlement is expected to occur April 19.
The joint dealer managers are Deutsche Bank AG, London Branch (+44 (0) 20 7545 8011), Erste Group Bank AG (+43 50100 87492, fax +43 0 5 0100 987492 or FISyndicate0604@erstegroup.com) and Societe Generale (+44 20 7676 7680, 855 881 2108, 212 278 6964 or liability.management@sgcib.com).
The tender agent is Citibank, NA, London Branch (+44 0 20 7508 3867 or Citiexchanges@citi.com).
© 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.