Philippine telco Globe Telecom has completed its tender offer to purchase notes issued by local carrier Bayan Telecommunications.
Globe has purchased 92.9% of the 13.5% senior notes, the company announced on the Philippine stock exchange yesterday.
As…
Philippine telco Globe Telecom has completed its tender offer to purchase notes issued by local carrier Bayan Telecommunications.
Globe has purchased 92.9% of the 13.5% senior notes, the company announced on the Philippine stock exchange yesterday.
As TelecomFinance previously reported, Globe had announced it was looking to buy Bayantel’s US$185m debt and launched a tender offer for holders of the notes.
The telco had offered US$310 in cash per US$1,000 notes to holders who tendered the debt before the early tender date and US$307.50 after the early tender date but before the expiration date.
The settlement date of the tender offer is 21 December.