Thai cellco True Move has launched a tender offer for the repurchase of US$690m worth of bonds.
The company is looking to buy back US$465m in bonds, which carry a 10.75% coupon rate and mature in 2013, as well as US$225m worth of 2014 notes, which carry…
Thai cellco True Move has launched a tender offer for the repurchase of US$690m worth of bonds.
The company is looking to buy back US$465m in bonds, which carry a 10.75% coupon rate and mature in 2013, as well as US$225m worth of 2014 notes, which carry a coupon rate of 10.375%.
In a statement, True is offering 109 cents to the dollar to bondholders if they provide their consent by an early tender deadline on 20 September. The expiration time is 4 October at which point the offer will have dropped to 107 cents to the dollar.
Deutsche Bank acted as exclusive deal manager and solicitation agent on the transaction.
