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Press Metal to buy notes up to USD 200 Million

Metal News - Published on Thu, 30 Jul 2020

Image Source: Press Metal
Press Metal Aluminium Holdings Bhd's subsidiary Press Metal (Labuan) Ltd has invited holders of the notes it issued to submit tenders to purchase their notes for cash on the terms and in the tender offer to be despatched to them. Press Metal said in a filing “Press Metal Labuan proposes to accept for purchase notes tendered in the offer up to a maximum aggregate principal amount of USD 200 million, which shall be subject to increase or decrease in Press Metal Labuan's sole discretion. The offer is being made as part of the company’s policy to actively manage its balance sheet liabilities while optimising its costs of financing.”

The offer will expire at 4 PM London Time on August 6, while the pricing date is August 7.

Press Metal Labuan has engaged J.P. Morgan Securities plc and Standard Chartered Bank (Singapore) Ltd to act as the dealer managers for the offer.

Source :

Posted By : Yogender Pancholi on Thu, 30 Jul 2020
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