Indus Gas Limited Proposed tender offer of senior unsecured notes (7931F)
23 February 2018 - 10:19PM
UK Regulatory
TIDMINDI
RNS Number : 7931F
Indus Gas Limited
23 February 2018
INDUS GAS LIMITED
(Company Registration Number 48593) (Incorporated in the Island
of Guernsey)
PROPOSED TENDER OFFER IN RESPECT OF S$100,000,000 8 PER CENT.
SENIOR UNSECURED NOTES DUE 2018 (ISIN: SG6WF9000009) (THE "NOTES")
OF ITS US$300,000,000 MULTICURRENCY MEDIUM TERM NOTE PROGRAMME (THE
"PROGRAMME")
The Board of Directors of Indus Gas Limited (the "Company") is
pleased to announce that, as part of the Company's continuing
capital and liability management initiatives to optimise its debt
capital structure, it has today commenced an invitation to the
holders of the Notes (the "Noteholders") to offer to sell for cash
("offers to sell" and each an "offer to sell" and "offered for
sale" shall be construed accordingly) to the Company, any and all
of the outstanding Notes held by them (the "Tender Offer"), subject
to the terms and conditions of the Offer to Purchase dated 22
February 2018 issued by the Company (the "Offer to Purchase").
Capitalised terms used in this announcement but not otherwise
defined shall have the meanings given to those in the Offer to
Purchase.
The Company is pleased to announce that it has mandated Deutsche
Bank AG, Singapore Branch as the tender agent for the Tender Offer
(the "Tender Agent").
The Total Consideration for Notes validly tendered and accepted
for purchase pursuant to the Tender Offer will be SGD1,000 per
SGD1,000 principal amount of the Notes, and accrued and unpaid
interest thereon up to but excluding the Settlement Date, for Notes
tendered prior to the Expiration Date and whose Notes have been
accepted for purchase by the Company (the "Accepted Notes").
The Total Consideration for such Accepted Notes will be paid on
9 March 2018, being the date on which Accepted Notes are purchased
pursuant to the Offer to Purchase (the "Settlement Date") by or on
behalf of the Company for the account of the relevant
Noteholders.
The Tender Offer will commence on 22 February 2018 and will
expire at 5.00 p.m. (Singapore time) on 7 March 2018, unless
extended or earlier terminated (such date and time, as may be
extended, the "Expiration Date"). The Company will announce the
aggregate principal amount of the Accepted Notes on the website of
the SGX-ST. The Company may, in its sole and absolute discretion,
extend the Expiration Date for any purpose. The Company will notify
the Noteholders of any such amendment or extension as soon as is
practicable after the relevant decision is made by release of an
announcement on the SGX-ST website.
Noteholders may submit Tender Offer Forms to the Tender Agent at
its office at One Raffles Quay,
#13-00 South Tower, (Central Mail Room), Singapore 048583,
attention to Corporate Trust, at any time between 9:00 a.m. to 5:00
p.m. (Singapore time) from Mondays to Fridays (excluding public
holidays).
A copy of the Offer to Purchase will be mailed to each person
who is shown in the records of CDP as a holder of the Notes with an
address in Singapore. In order to avoid any violation of laws
applicable in countries other than Singapore, the Offer to Purchase
has not been and will not be mailed to Noteholders who do not
presently have an address in Singapore (" Foreign Noteholders").
Foreign Noteholders who wish to obtain a copy of the Offer to
Purchase should provide in writing such address in Singapore to the
Tender Agent not later than five days before the Expiration
Date.
In addition, the Offer to Purchase will be made available to
Noteholders at the office of the Tender Agent at One Raffles Quay,
#16-00 South Tower, Singapore 048583, from 22 February 2018, from
Mondays to Fridays (excluding public holidays), up to 5 p.m.
(Singapore time) on 7 March 2018.
This announcement must be read in conjunction with the Offer to
Purchase. The Offer to Purchase contains important information
which should be read carefully before any decision is made with
respect to the Tender Offer. If any Noteholder is in doubt as to
the action it should take, it is recommended to seek its own
financial and legal advice, including in respect of any tax
consequences, immediately from its stockbroker, bank manager,
solicitor, accountant or other independent financial adviser. Any
individual or company whose Notes are held on its behalf by a
broker, dealer, bank, custodian, trust company or other nominee
must contact such entity if it wishes to participate in the Tender
Offer. None of the Company, the Subsidiary Guarantors, the Tender
Agent, and the Trustee makes any recommendation as to whether or
not or how Noteholders should participate in the Tender Offer.
For further information please contact:
Indus Gas Limited
Peter Cockburn
Bruce McNaught +44 (0) 20 7877 0022
Arden Partners plc
Steve Douglas +44 (0) 20 7614 5900
This information is provided by RNS
The company news service from the London Stock Exchange
END
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