Barclays waives minimum condition in tender for Coronado CDO notes

By Jennifer Chiou

New York, May 10 - Barclays announced the close of its cash tender offer for three series of notes issued by Coronado CDO Ltd. and Coronado CDO Corp.

The offer ended at 5 p.m. ET on May 9. It began on April 12.

Barclays said that it waived the minimum tender condition and accepted all tendered notes. It did not specify the tender amounts in a press release.

As previously reported, the purchase price for each $1,000 principal amount of notes was as follows:

• $940 for the $377 million of class A-1 floating-rate notes due September 2038, with $94,034,394 outstanding;

• $210 for the $62 million of class B-1 floating-rate notes due September 2038; and

• $210 for the $15 million of class B-2 fixed-rate notes due September 2038.

The offer was originally conditioned on the company receiving tenders of $360 million principal amount of the class A-1 floaters.

Barclays (212 412-5155 or CDOtender@barclays.com) acted as the dealer manager. Global Bondholder Services Corp. (866 736-2200 or collect 212 430-3774) was the information agent and tender agent.

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