Tag: tender

Equities

Welspun chooses not to proceed with CB tender

The Indian company receives bids for about 50% of the $150 million convertible bond issue, but rejects them all as a falling rupee adds to the buy-back cost.

By Anette Jönsson | 19 December 2011

Debt

Indosat launches tender offers for 2010 and 2012 bonds

Two subsidiaries of the Indonesian mobile operator Indosat launch separate and independent tender offers in combination with a new 10-year issue.

By Mei Tuicolo | 13 May 2010

Debt

Country Garden to finance CB tender with new bond issue

No further details on the size of the tender or the new issue are available, but the CB has about $630 million outstanding.

By Anette Jönsson | 8 April 2010

Debt

Nine Dragons offers to buy back bonds at par

The paper manufacturer uses its cash resources to launch a second tender for its outstanding bonds, while cash-strapped Powerchip is forced to pay its CB investors partly in ...

By Anette Jönsson | 10 July 2009

Debt

Hutchison gets solid response for first bond tender

Investors tender $1.77 billion of bonds by the early deadline, versus the company's offer to buy back $1.5 billion. The majority of the bonds tendered are in the shortest ...

By Anette Jönsson | 25 May 2009

Debt

Hutchison launches second tender for short bonds

The company is offering to buy back another $1.5 billion of bonds; this time from two issues maturing in 2010 and 2011.

By Anette Jönsson | 19 May 2009

Debt

Hutchison brings tender to investment-grade investors

The Hong Kong conglomerate offers to buy back up to $1.5 billion worth of bonds from four different issues. Meanwhile, Pakistan Mobile's tender is oversubscribed and Greentown ...

By Anette Jönsson | 12 May 2009

Debt

Greentown launches tender to prevent default

An attractive exit price of 85 cents on the dollar increases the chances that the property developer will succeed in buying back most of its $400 million high-yield bond.

By Anette Jönsson | 28 April 2009

Debt

Pakistan Mobile bond tender triggers default alert

S&P says the material tender discount of up to 30% versus face value would prompt it to put a default rating on the bonds if the proposed transaction is completed.

By Anette Jönsson | 17 April 2009

Debt

Taiwan bank launches tender for subordinated bonds

Cathay United Bank is offering to buy back up to $125 million of its sole international bond at a discount.

By Anette Jönsson | 15 April 2009

Equities

KCC issues another exchangeable into Hyundai Heavy

The Korean company raises $200 million from the upsized deal, five months after buying back bonds exchangeable into the same target.

By Anette Jönsson | 9 April 2009

Equities

ProMOS tender succeeds after criteria amended

The Taiwan memory-chip maker says 80.34% of the CBs were tendered or will be held to maturity, allowing it to move on to the next phase of its restructuring.

By Anette Jönsson | 31 March 2009

Debt

City Telecom launches tender for high-yield bonds

The fixed-line telecom operator offers to pay up to 75 cents on the dollar for $89.4 million worth of outstanding 2015 bonds.

By Anette Jönsson | 30 March 2009

Equities

ProMOS tender nearly there; deadline extended again

Soft indications of support for the bond buyback suggest the acceptance rate will be above the 79% needed for the deal to succeed, but analysts warn of more troubles ahead.

By Anette Jönsson | 24 March 2009

Equities

ProMOS says 70% of CB holders support tender

In the hope of achieving the minimum acceptance rate of 79%, the Taiwanese chipmaker extends the early premium deadline until the end of the tender offer set for March 21.

By Anette Jönsson | 19 March 2009

Debt

Asia Aluminum withdraws tender offer

The controversial offer to buy back bonds and notes becomes impossible after the Chinese municipal government withdraws its financing support. Provisional liquidators are ...

By Anette Jönsson | 17 March 2009

Debt

Nine Dragons' buyback attracts little extra interest

The company achieves a 58% acceptance rate for its bond buyback tender which closed on Monday – only marginally more than the 57% tendered by the early deadline.

By Anette Jönsson | 11 March 2009

Equities

ProMOS extends early deadline on CB buyback

The cash-strapped DRAM maker says more than 50% of its CB holders have indicated support for the offer, but some need more time to complete the tender process.

By Anette Jönsson | 4 March 2009

Debt

Asia Aluminum bond tender at risk of rejection

Bondholders are unhappy with the offer, while the chairman stresses that it is the only way to prevent liquidation.

By Anette Jönsson | 2 March 2009

Equities

Nine Dragons buys back 57% of its bonds

The Chinese paper manufacturer extends its early tender deadline to tempt more investors to surrender their bonds at the higher price, while in Taiwan, ProMOS calls on CB ...

By Anette Jönsson | 26 February 2009

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