Shanghai International Port accepts tenders for $231.43 million bonds

By Marisa Wong

Los Angeles, June 14 – Shanghai Port Group (BVI) Holding Co., Ltd. announced the results of its June 7 any-and-all cash tender offer for its outstanding zero-coupon exchangeable bonds due 2022 (ISIN: XS1655583596) guaranteed by Shanghai International Port (Group) Co., Ltd.

As of the expiration of the offer at 11 a.m. ET on June 13, holders had tendered and the issuer accepted for purchase $231,426,000 of the bonds, or 99.87% of the outstanding principal amount.

The final purchase price is $1,133.70 per $1,000 principal amount, according to a notice on Tuesday.

The indicative purchase price was $1,115.90 per $1,000 bond, as previously reported.

Settlement is planned for June 16. After that, $300,000 of the original $500 million principal amount will remain outstanding.

Deutsche Bank AG, Hong Kong Branch is the dealer manager (+852 2203 8038, AsiaEQLrepurchase@list.db.com).

Citibank NA, London Branch is the information and tender agent (+44 20 7508 3867, citiexchanges@citi.com, https://debtxportal.issuerservices.citigroup.com).

The operator of the port of Shanghai originally issued $500 million of the bonds.

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