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Mongolian Mortgage announces cash tender offer for 9¾% notes due 2022
By Rebecca Melvin
New York, Jan. 19 – Mongolian Mortgage Corp. HFC LLC began Jan. 18 an offer to repurchase for cash all of its $280.68 million principal amount outstanding of 9¾% notes due 2022 (Cusip: Y6142GAA1, 60938EAA8), according to a notice.
The notes are guaranteed by MIK Holding JSC.
The notes will be redeemed for $1,020 per $1,000 face amount of notes if tendered prior to the Feb. 1 early tender deadline and at $1,000 following the deadline.
The offer expires at 11:59 p.m. ET on Feb. 16. Validly tendered notes may be withdrawn up to 5 p.m. ET on Feb. 1, which is also the early tender deadline.
The company also announced a concurrent offering of new guaranteed senior notes. The redemption of the old notes is conditional on consummation of financing conditions on terms that are satisfactory for the company.
The information and tender agent is Morrow Sodali Ltd. (+44 20 8089 3287, 203 609-4910, +852 2 319 4130.
The dealer manager of the tender offer is Credit Suisse (Singapore) Ltd. (+852 2 101 7700, list.hkdcmsyndicate@credit-suisse.com).
Based in Ulaanbaatar, Mongolia, Mongolian Mortgage issues mortgage-backed securities. The company is a subsidiary of Mongolian Mortgage Corp. Holdings JSC.
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