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Founder Securities unit tenders for up to $70 million of 6.9% bonds
By Sarah Lizee
Olympia, Wash., April 27 – Hong Kong’s Founder Securities (Hong Kong) Financial Holdings Ltd. unit First FZ Bond Ltd. offered to purchase for cash up to $70 million of its $200 million 6.9% guaranteed bonds due 2020 (ISIN: XS1892347086), according to a notice.
The purchase price is $900 per $1,000 of notes. Holders will also receive accrued interest.
The offer will expire at 11 a.m. ET on May 5. Settlement is expected for May 11.
Tendered notes may be subject to proration.
The company said the purpose of the offer is to improve and extend its debt maturity profile.
Founder Securities (Hong Kong) Ltd. (852 3798 3333 or gcm@hkfoundersc.com) is acting as the dealer manager and D.F King Ltd. (+44 20 7920 9700, +852 3952 7208 or firstfz@dfkingltd.com) is acting as the information and tender agent.
The financial services company is based in Hong Kong.
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