General Announcement::OFFER TO PURCHASE FOR CASH BY COMPANY OF ITS OUTSTANDING 11% SENIOR NOTES DUE 2020

Issuer & Securities

Issuer/ Manager
REDCO PROPERTIES GROUP LIMITED
Securities
REDCOPROP US$200M11%N200829 - XS1871136286 - ENXB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
28-May-2020 07:59:47
Status
New
Announcement Sub Title
OFFER TO PURCHASE FOR CASH BY COMPANY OF ITS OUTSTANDING 11% SENIOR NOTES DUE 2020
Announcement Reference
SG200528OTHRQOTT
Submitted By (Co./ Ind. Name)
Chan Hing Chau
Designation
Company Secretary
Effective Date and Time of the event
28/05/2020 08:00:00
Description (Please provide a detailed description of the event in the box below)
Reference is made to the announcements of the Company dated May 19, 2020 and
May 20, 2020 (the Announcements ) in relation to the Offer. Capitalized terms
used in this announcement shall have the same meanings ascribed to them in the
Announcements.
The Offer expired at 4:00 p.m. (London Time) on May 27, 2020. As of the Expiration
Deadline, a total of US$138,575,000 in principal amount of the 2020 Notes,
representing approximately 44.64% of the total outstanding principal amount of the
2020 Notes have been validly tendered and not withdrawn pursuant to the Offer to
Purchase.
Pursuant to the terms and conditions of the Offer to Purchase, the Maximum
Acceptance Amount is US$120 million. As the aggregate principal amount of the
2020 Notes validly tendered exceeds the Maximum Acceptance Amount, the
Company decided to raise the Maximum Acceptance Amount to US$120,001,000. As
the aggregate principal amount of the 2020 Notes validly tendered exceeds the
Maximum Acceptance Amount, the principal amount of the 2020 Notes validly
accepted for purchase is subject to proration pursuant to the terms of the Offer to
Purchase at a proration factor of 84.42%. The Company has accepted such tender of
the 2020 Notes in full if application of proration will otherwise result in either (i) the
Company accepting the 2020 Notes from any Eligible Holder in a principal amount
of less than US$200,000 or (ii) the principal amount of the 2020 Notes not purchased
due to pro rata application being less than US$200,000. The Purchase Price for the
2020 Notes is US$1,000 per US$1,000 principal amount of the 2020 Notes accepted
for purchase by the Company. Accordingly, the Company will pay (i) an aggregate
Purchase Price of US$120,001,000 for all such 2020 Notes accepted for purchase,
and (ii) Accrued Interest thereon, in the amount of US$28.11 per US$1,000 principal
amount of the 2020 Notes accepted for purchase by the Company, pursuant to the
terms of the Offer.

Attachments

E1622_SGX.pdf
Total size =96K