Bahrain Mumtalakat launches tender for trust certificates due 2021

By Marisa Wong

Los Angeles, Jan. 7 – Bahrain Mumtalakat Holding Co. BSC announced a cash tender offer for any and all of the outstanding $600 million trust certificates due 2021 issued by Mumtalakat Sukuk Holding Co.

The offer expires at 11 a.m. ET on Jan. 13.

The company is offering to purchase the certificates at 101.55 plus accrued distributions to but excluding the settlement date, which is expected to be Jan. 21.

The offer is subject to a new financing condition. The company announced on Tuesday plans to issue new dollar-denominated trust certificates.

Holders participating in the tender offer may receive priority in allocation of the new Regulation S certificates.

Citigroup Global Markets Ltd. (+44 20 7986 8969, liabilitymanagement.europe@citi.com), Gulf International Bank BSC (+973 1754 2524, dcm.syndicate@gibcapital.com), HSBC Bank plc (+44 20 7992 6237, LM_EMEA@hsbc.com), National Bank of Bahrain BSC (+973 1720 5473, dcm-syndications@nbb.bh) and Standard Chartered Bank (+44 20 7885 5739 / +971 4508 4412 / +65 6596 8807, liability_management@sc.com) are dealer managers for the tender offer.

Lucid Issuer Services Ltd. (+44 20 7704 0880, attn.: Arlind Bytyqi, mumtalakat@lucid-is.com) is information and tender agent.

Based in Manama, Bahrain, Mumtalakat is the sovereign wealth fund for the government of the Kingdom of Bahrain.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.