Cimic sets purchase price in tender offer for 5.95% notes due 2022

By Toni Weeks

San Luis Obispo, Calif., June 19 – Cimic Finance (USA) Pty. Ltd., a direct wholly owned subsidiary of Cimic Group Ltd., announced the price it will pay in the tender offer for its $500 million 5.95% guaranteed senior notes due 2022, which began June 15.

Per each $1,000 principal amount of notes tendered before the offer’s expiration date, 5 p.m. ET on June 19, the company will pay $1,099.63. Pricing was set at 2 p.m. ET on Friday using a reference yield based on the bid-side price of the 1.625% U.S. Treasury note due Nov. 15, 2022 plus 230 basis points.

Cimic will also pay accrued interest from the immediately preceding interest payment date up to but excluding the settlement date, which is expected to be June 24.

For more information, holders may contact dealer managers Hongkong and Shanghai Banking Corp. (888 HSBC-4LM, +852 2822 4100, +44 207 992 6237, 212 525-5552 or liability.management@hsbcib.com) or Societe Generale (+44 207 676 7579 or liability.management@sgcib.com).

D.F. King & Co., Inc. (212 269-5550, cimic@dfking.com or dfking.com/cimic) is the tender agent and information agent.

Cimic Group, formerly Leighton Holdings Ltd., is a St. Leonards, Australia-based company engaged in building, civil engineering, construction, contract mining, telecommunications, environmental services, property development and project management in Australia, Asia, the Middle East and Africa.

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