3128012 Nova Scotia tenders for Fairmont Hotels & Resorts' 3.75% convertibles

By Jennifer Chiou

New York, March 31 - 3128012 Nova Scotia Ltd. announced the start of a tender offer for any and all of Fairmont Hotels & Resorts Inc.'s 3.75% convertible senior notes due 2023.

The offer expires at 5 p.m. ET on April 28.

For each $1,000 principal amount of convertible, the company said it will pay $1,211.43, which is the sum of $1,192.68 - the amount that would have been received had the convertible notes been converted into Fairmont shares and then converted into $45.00 in cash for each Fairmont share - plus accrued interest to June 1.

The offer is part of Toronto-based Fairmont's acquisition agreement with 3128012 Nova Scotia, under which 3128012 Nova Scotia will acquire all Fairmont shares for $45.00 each.

The company noted that the purchase price will be altered if the offer is extended beyond 5 p.m. ET on May 15.

Global Bondholder Services Corp. is the information agent (866 470-3700 or call collect 212 430-3774). The Bank of New York is the depositary (call collect 212 815-3738).

Kingdom Hotels International and Colony Capital, LLC owns 3128012 Nova Scotia.

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