Macquarie Communications buys back A$31 million more 2.5% exchangeables due 2012

By Jennifer Chiou

New York, Oct. 30 - Macquarie Communications Infrastructure Group said it repurchased A$31 million more of its 2.5% guaranteed exchangeable bonds due 2012 at a cost of A$24 million between Sept. 2 and Oct. 28.

The company said it bought back the bonds at prices between 76 and 79.5, with a weighted-average price of 78. The repurchased bonds will be canceled.

On Sept. 2, the company said it accepted A$309 million of its A$725 million of 2.5% exchangeables due 2012 and $89 million of its 2.5% guaranteed exchangeable bonds due 2013 in a tender offer. Noteholders received 91 for the exchangeables due 2012 and 89 for the exchangeables due 2013, plus accrued interest in each case. Settlement was on Sept. 16.

For each series of bonds, the payout was calculated using the clearing price for each A$250 million principal amount. In total, Macquarie paid A$284 million for the exchangeables due 2012 and $79 million for the exchangeables due 2013, including interest, in the offer.

When the offer began on Aug. 27, the company said it expected to accept up to A$400 million of the exchangeables.

The company noted that it may make further buybacks.

Macquarie Communications is a Sydney, Australia-based infrastructure fund run by Macquarie Bank.

© 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.