JOHANNESBURG (miningweekly.com) – Diversified mining and marketing company Glencore has priced the offers to purchase up to the maximum tender amount of outstanding notes of $1.1-billion.
The total offer consideration relates to the individual number of $1 000 principal amount of notes that have been accepted for purchase. The total offer consideration includes the early tender premium of $30 per every $1 000 principal amount of notes that have been accepted for purchase. The applicable total offer consideration plus the accrued interest will be paid to holders of notes that have been validly tendered and not validly withdrawn at, or prior to the early tender date and accepted for purchase.
Subject to the terms of the offers, all notes validly tendered and not validly withdrawn at or prior to the early tender date have been accepted for purchase.
Moreover, Glencore noted no notes tendered after the early tender date had been or would be accepted for purchase. “The offers will expire on December 29, at 11:59 pm, New York City time.”
With regards to the early payment date, the applicable total offer consideration plus the accrued interest will be paid to holders of notes that have been validly tendered and not validly withdrawn at or prior to the early tender date and accepted for purchase. “The early payment date for each offer was expected to occur on
December 16,” stated Glencore.