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Based out of Lake Forest of Illinois and also worldwide known for their quality manufacturing and prompt consumer service, The “Reynolds Group” of Company and a portion of the secondary “issuers” which belong to the said group of corporation, namely the “Reynolds Group Holdings Limited”, who expertise in beverage and other food consumable packet products, has released its long, though not exhaustive, revised list of “Senior Secured Notes and Senior Notes” on Asset related purchase offer including their “expiration” and “results”, which were initially launched on 17 February 2015.
The revised list, as released on 16 March 2015 almost at the stroke of midnight, can be categorized under two headings, which went through periodical modification, amendment and supplementation as required since its previous announcement.
The Business Wire records the said two categories as the “Sale Offers pursuant to the Offer to Purchase” along with its associate letters of payment, and the “Premium Tender Offers pursuant to the Offer to Purchase” supplemented by its collateral allowance letters which equally covers the “Expiration time”.
Certain sources from the tender agent, namely “D.F. King & Co., Inc.”, announcing “the Asset Sale Offers and Premium Tender Offers” mentioned “the aggregate principal amount of each series”, and the related expiration time to determine the “Premium Tender Offers”
“Senior Secured Notes”, under first group includes four subcategories their expiration date being “April 2019”, “August 2019”, “October 2020”, and “February 2021” wherein the percentage between the outstanding amounts and the aggregated principal amounts are 0.01%, 0%, 0.40%, and 0.53% respectively.
Similarly the section under “Senior Notes” five subcategories and their relative expiration dates being “April 2019”, “May 2018”, “August 2019”, “February 2021”, and finally “December 2016”. The lowest percent rate in this series records 0.06% whereas the highest reads as 1.18% of inflation.
The second one the “Premium Tender Offers” incorporates two subcategories under the “Senior Secured Notes” and three more under the “Senior Notes” wherein due period of expiration ranges from “May 2018” to “August 2019” and the percentage rate varies from 33.01% to 61.24%.
Among the extensively listed figures there appears to be some amounts like “7.125% Senior Secured Notes due April 2019”, “8.500% Senior Notes due May 2018” and “9.000% Senior Notes due April 2019” to mention a few, were tendered “validly” but failed to under to a valid withdrawal.
However even these cases will be acknowledged in the purchase on the due date for payment settlement. However, if notes fail to be accepted, they will be returned on spot or credited to the DTC account as per suitable cases.
There was another announcement by the “Issuers” that the aggregated principal amount of 7.125% Senior Secured Notes due April 2019 which equals to $218,313,000 will be called “for redemption” at the rate of 103.563% from their principal amount including the “accrued” and the “unpaid interest” along with a bond to that effect which will be settled on 16 April 2015.
Nevertheless, the Reynolds Group of Company also claims that the information provided for this press release regarding its “asset purchase offers” are only “forward-looking statements” which may differ to some extent at the time of execution.
References:
http://www.businesswire.com/news/home/20150316006515/en#.VQgECI6Uf1U
The revised list, as released on 16 March 2015 almost at the stroke of midnight, can be categorized under two headings, which went through periodical modification, amendment and supplementation as required since its previous announcement.
The Business Wire records the said two categories as the “Sale Offers pursuant to the Offer to Purchase” along with its associate letters of payment, and the “Premium Tender Offers pursuant to the Offer to Purchase” supplemented by its collateral allowance letters which equally covers the “Expiration time”.
Certain sources from the tender agent, namely “D.F. King & Co., Inc.”, announcing “the Asset Sale Offers and Premium Tender Offers” mentioned “the aggregate principal amount of each series”, and the related expiration time to determine the “Premium Tender Offers”
“Senior Secured Notes”, under first group includes four subcategories their expiration date being “April 2019”, “August 2019”, “October 2020”, and “February 2021” wherein the percentage between the outstanding amounts and the aggregated principal amounts are 0.01%, 0%, 0.40%, and 0.53% respectively.
Similarly the section under “Senior Notes” five subcategories and their relative expiration dates being “April 2019”, “May 2018”, “August 2019”, “February 2021”, and finally “December 2016”. The lowest percent rate in this series records 0.06% whereas the highest reads as 1.18% of inflation.
The second one the “Premium Tender Offers” incorporates two subcategories under the “Senior Secured Notes” and three more under the “Senior Notes” wherein due period of expiration ranges from “May 2018” to “August 2019” and the percentage rate varies from 33.01% to 61.24%.
Among the extensively listed figures there appears to be some amounts like “7.125% Senior Secured Notes due April 2019”, “8.500% Senior Notes due May 2018” and “9.000% Senior Notes due April 2019” to mention a few, were tendered “validly” but failed to under to a valid withdrawal.
However even these cases will be acknowledged in the purchase on the due date for payment settlement. However, if notes fail to be accepted, they will be returned on spot or credited to the DTC account as per suitable cases.
There was another announcement by the “Issuers” that the aggregated principal amount of 7.125% Senior Secured Notes due April 2019 which equals to $218,313,000 will be called “for redemption” at the rate of 103.563% from their principal amount including the “accrued” and the “unpaid interest” along with a bond to that effect which will be settled on 16 April 2015.
Nevertheless, the Reynolds Group of Company also claims that the information provided for this press release regarding its “asset purchase offers” are only “forward-looking statements” which may differ to some extent at the time of execution.
References:
http://www.businesswire.com/news/home/20150316006515/en#.VQgECI6Uf1U
