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Oman Telecommunications announces final results of Oztel tender offer
Chicago, Nov. 2 – Oman Telecommunications Co. SAOG (Omantel) announced the final results of its cash tender offer for two series of notes issued by Oztel Holdings SPC Ltd. for a total purchase price of up to $600 million, according to a release on Wednesday.
Post-early settlement date, noteholders tendered an additional $2.4 million of the 5 5/8% secured notes due October 2023 (ISINs: US692733AA63, XS1805474951).
The company accepted all of the tendered notes, paying a late tender consideration of $962.40 per $1,000 note.
After settlement, there will be $457,091,000 of the October 2023 notes outstanding.
The offer expired at 11:59 p.m. ET on Nov. 1. Settlement for these notes is expected for Nov. 3.
The company was also conducting a tender offer for its 6 5/8% secured notes due April 2028 (ISINs: US692733AB47, XS1805476659).
As previously reported, on the early settlement date, the company purchased $211,079,000 of the 2028 notes and $140,509,000 of the 2023 notes.
No notes in the series were tendered after the early deadline, though.
The company paid $978.06 per $1,000 note for the April 2028 notes and $992.40 per $1,000 note for the October 2023 notes if they were tendered by the early deadline, inclusive of a $30 early tender payment per note.
In addition, holders whose notes are accepted for purchase will receive accrued interest.
The offer was subject to a financing condition.
Kroll Issuer Services Ltd. (liability_management@sc.com; +44 20 7885 5739, 212 667-0351; https://deals.is.kroll.com/oztel) is the tender and information agent.
Citigroup Global Markets Ltd. (liabilitymanagement.europe@citi.com;+44 20 7986 8969, 800 558-3745, 212 723-6106), HSBC Bank plc (liability.management@hsbcib.com; +44 20 7992 6237, 888 HSBC-4LM, 212 525-5552) and Standard Chartered Bank (liability_management@sc.com; +44 20 7885 5739, 212 667-0351) are the dealer managers.
The telecommunications company is based in Muscat, Oman.
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