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Hong Kong’s Pacific Century provides 4¾% notes tender offer results
Chicago, June 17 – Pacific Century Premium Developments Ltd. announced the results from its cash tender offer for its $700 million 4¾% guaranteed notes due 2022 (ISIN: XS1572363858), notes that were originally issued by PCPD Capital Ltd.
As of the expiration time at 11 a.m. ET on June 16, the company received tenders for $383,966,000 of the notes.
The company will accept all notes validly tendered for purchase, subject to the closing of a new issue of notes.
The company is offering to buy any and all of the notes for 101.8, as previously reported.
Settlement is planned for June 18.
After settlement, there will be $316,034,000 principal amount of notes outstanding.
Dealer managers for the offer are J.P. Morgan Securities plc (+44 20 3493 0682), Morgan Stanley & Co. International plc (+44 20 7677 7799, tmgap@morganstanley.com), HSBC Ltd. (+852 3941 0223, +44 20 7992 6237, liability.management@hsbcib.com), Standard Chartered Bank (+852 3983 8658, +65 6557 8289, liability_management@sc.com), SMBC Nikko Securities (Hong Kong) Ltd. (+852 3716 7000, DCMAsia@smbcnikko-hk.com), DBS Bank Ltd. (+852 2806 5325, liabilitymanagement@dbs.com) and Credit Suisse (Hong Kong) Ltd. (+852 2101 6750, list.liabilitymanagmentasia@credit-suisse.com).
Morrow Sodali Ltd. (+44 20 8089 3287, +852 2319 4130, pcpd@investor.morrowsodali.com, https://bonds.morrowsodali.com/pcpd) is the information and tender agent.
Pacific Century is engaged in the development and management of premium property and infrastructure projects, as well as investment in premium-grade buildings in the Asia-Pacific region. It is based in Hong Kong.
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