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Prospect News home > News index > List of issuers T > Headlines for Tenders 2004 > News item |
Corus tenders for 5 3/8% bonds
New York, Sept. 16 - Corus Group plc said it has begun a cash tender offer for its €400 million 5 3/8% euro bonds due 2006.
The London steelmaker is offering 103.5% of par for bonds tendered by the early tender date of 4 p.m. London time on Sept. 30.
Bonds tendered after that date but before the expiration of 4 p.m. London time on Oct. 15 will be purchased at 102.5% of par.
Corus will also pay accrued interest up to but excluding the settlement date.
The tender is subject to conditions including Corus obtaining satisfactory financing.
Credit Suisse First Boston (Europe) Ltd. is dealer manager for the tender.
Corus also announced an offering of €500 million of new senior notes due 2011. Proceeds will be used to reduce existing borrowings including funding the tender.
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