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Prospect News home > News index > List of issuers T > Headlines for Tenders 2009 > News item |
Domtar pushes tender cap to $400 million in offer for 7 7/8% notes
By Jennifer Chiou
New York, June 3 - Domtar Corp. said it raised the tender cap to $400 million from $250 million in the offer to buy its 7 7/8% notes due 2011.
As already reported, investors had tendered $415,942,000, or 77%, of its 7 7/8% notes by the early tender date of June 1.
Domtar announced the cash tender offer on May 20.
The offer will end at midnight ET on June 16.
For each $1,000 principal amount, Domtar previously said it will pay $1,010, which includes an early tender payment of $10.00 for those who tendered by the early deadline.
The company will also pay accrued interest.
Domtar noted previously that it may increase or waive the tender cap.
J.P. Morgan Securities Inc. (call collect 212 270-1477 or 800 245-8812) and Morgan Stanley & Co. Inc. (call collect 212 761-1941 or 800 624-1808) are the dealer managers. Global Bondholder Services Corp. (212 430-3774 or 866 470-3700) is the information agent and depositary.
Domtar is a paper company based in Montreal.
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