CPPIB holders put back $32.75 million, A$15.25 million exchangeables

By Angela McDaniels

Tacoma, Wash., Aug. 24 - CPPIB Communications Infrastructure Management Ltd. said that $32.75 million of its 2.5% guaranteed exchangeable bonds due 2013 and A$15.25 million of its 2.5% guaranteed exchangeable bonds due 2012 were put back to the company for purchase.

The bondholders had a delisting put option on Aug. 24, according to notices filed by the company with the Singapore Exchange.

The put bonds have been redeemed and canceled. None of the exchangeables due 2013 and A$219.75 million of the exchangeables due 2012 remain outstanding.

The company paid $268,330 for each $250,000 principal amount of the exchangeables due 2013 and A$272,266 for each A$250,000 principal amount of exchangebles due 2012. Holders also received accrued interest.

CPPIB, formerly Macquarie Communications Infrastructure Management Ltd., is a Sydney, Australia-based infrastructure fund run by Macquarie Bank.

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