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India’s Samvardhana issues contingent call for 4 1/8% notes at 102.2
By Susanna Moon
Chicago, June 22 – Samvardhana Motherson Automotive Systems Group BV issued a notice of conditional redemption for its €500 million of 4 1/8% senior secured notes due 2021.
The notes will be redeemed on July 6 at a redemption price of par plus a premium and accrued interest up to but excluding the redemption date, or €102,200 per €100,000 of notes plus accrued interest.
The redemption date may be pushed back to as far as July 14 if the refinancing condition is not met or waived by July 6, according to a company notice.
The record date is the business day before the redemption date.
The issuer said it is planning to issue new senior secured notes, with proceeds to be used to redeem the notes.
The redemption is contingent on issue of the new notes.
Deutsche Bank AG, London Branch is the paying agent.
Samvardhana Motherson Group is a Noida, India auto parts maker.
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