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Published on 6/4/2009 in the Prospect News Emerging Markets Daily.

China Glass tenders for $100 million 9 5/8% senior notes due 2012

By Aaron Hochman-Zimmerman

New York, June 4 - China Glass Holdings Ltd. announced a tender offer for $100 million of its 9 5/8% senior notes due 2012, according to a market source.

The company is offering to pay 48 cents on the dollar.

If noteholders tender before the early consent deadline of 5 a.m. ET on June 19, they will receive an additional 2 cents for each dollar; however only $50 million of the total amount will be available for early tender.

The offer expires at 9 p.m. ET on July 1, but will require the approval of note holders at a meeting scheduled for July 6.

Settlement is expected on July 27.

Standard Chartered has been mandated as manager.

China Glass is a Hong Kong-based glass manufacturer.


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