Summa Group News 2015 - May PT1
News from Ziyavudin Magomeladov's Summa Group and its subsidiaries.
News from Ziyavudin Magomeladov's Summa Group and its subsidiaries.
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<strong>Summa</strong> <strong>Group</strong> <strong>2015</strong> – <strong>May</strong> – <strong>PT1</strong><br />
FESCO’S TENDER OFFER: FINAL RESULTS<br />
FESCO, subsidiary of the <strong>Summa</strong> <strong>Group</strong>, has announced it’s final results for the recent tender offer<br />
regarding the Senior Secured Notes that are due in 2018 and 2020.<br />
On the 8 th of <strong>May</strong> <strong>2015</strong> at 22:00 (GMT), the aggregated principal amount for the 2018 notes and<br />
2020 notes to be tendered and accepted for purchase was US$128,903,000 and US$ 91,154,000<br />
respectively. Details include:<br />
• FESCO Dry Bulk Carriers Limited has been recognised at the sole Purchaser of the Notes.<br />
• The Clearing Premiums of the 2018 and 2020 notes is US$1000.<br />
• The Total Consideration for the $1000 2018 notes is US$510 and US$500 for the 2020 notes.<br />
• The Tender Offer Consideration for the $1000 <strong>2015</strong> notes is US$460 and US$450 for 2020 notes.<br />
• The 2018 and 2020 Notes have been accepted in full without pro-rata allocation.<br />
The 14 th of <strong>May</strong> was the settlement date for the offer.<br />
FESCO – NCSP - STROYNOVATSIYA – INTEX – YATEC – UNITED GRAIN COMPANY
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