| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers N > Headlines for Nickel Industries Ltd. > News item |
Nickel Industries gives results of tender offer for notes due 2024
Chicago, April 19 – Nickel Industries Ltd. announced the results of its cash tender offer for its $325 million outstanding Regulation S 6˝% notes due 2024 (ISIN: XS2325213689), according to a notice.
Noteholders tendered $181.49 million of the notes, including $79,392,000 principal amount of priority tendered notes.
The maximum acceptance amount will be $79,392,000.
None of the non-priority notes are being accepted from the offer.
Holders of the existing notes who participated in the tender offer and wished to subscribe for new notes received priority of acceptance in the tender offer.
Holders who wished to tender their notes but did not wish to subscribe for new notes could submit a tender-only instruction.
The company was offering to purchase the notes at 102 plus accrued interest.
The tender offer is subject to a new financing condition.
The tender offer expired at 11 a.m. ET on April 18.
Settlement is expected to be on or around April 21.
The information and tender agent is Morrow Sodali Ltd. (+44 20 4513 6933, +852 2319 4130; nickelindustries@investor.morrowsodali.com; https://projects.morrowsodali.com/nickelindustries).
The dealer managers are Merrill Lynch (Singapore) Pte. Ltd. (+852 3508 3514, +44 207 996 5420; dg.dcm_sea@bofa.com / DG.LM-EMEA@bofa.com) and Morgan Stanley & Co. International plc (800 624-1808; 212 761-1057, +44 207 677 5040, +852 2239 1484; debt_advisory@morganstanley.com).
The company said the purpose of the tender offer and the new notes issuance is to, among other things, extend the company’s debt maturity profile. The invitation also gives noteholders the opportunity to sell their current holdings in the notes and to subscribe for the notes, thereby extending their investment.
The nickel producer is based in Sydney, Australia. The company changed its name from Nickel Mines Ltd.
© 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.