HoldCo CDO Opportunities Fund Limited Commences Cash Tender Offer for Certain Outstanding Notes of SOUTH STREET CBO 1999-1 LTD. and SOUTH STREET CBO 1999-1 (DELAWARE) Corp.
NEW YORK, June 6, 2014 /PRNewswire/ -- HoldCo CDO Opportunities Fund Limited (the "Offeror") today announced that it has commenced its tender offer to purchase for cash (the "Offer") all of the outstanding Class A-2 Notes Due July 2011, all of the Class A-2L Notes Due July 2011, and all of the Class A-3 Notes Due July 2011 (subject to the Class A-3 Limited Offer Terms), (together, the "Notes") of SOUTH STREET CBO 1999-1 LTD. and SOUTH STREET CBO 1999-1 (DELAWARE) Corp. The Offer is being made pursuant to an offer to purchase (the "Offer to Purchase") and related letter of transmittal (the "Letter of Transmittal"), each dated June 6, 2014.
The following table shows the Notes included in the Offer as well as the applicable purchase price and early tender premium (as applicable) for each $1,000 outstanding principal amount of the Notes.
Notes |
CUSIP(i) |
ISIN(i) |
Original Principal Amount (*) |
Outstanding Principal Amount(*) |
|||||
Class A-2 Notes Due July 2011 |
84046PAE4 |
XS0098222671 |
$36,000,000 |
$12,968,867 |
|||||
Class A-2L Notes Due July 2011 |
84046PAD6 |
XS0098222325 |
$24,000,000 |
$19,453,301 |
|||||
Class A-3 Notes Due July 2011 |
84046PAF1 |
XS0098222754 |
$45,500,000 |
$45,500,000 |
Notes |
Purchase Price Per $1,000 Original Principal Amount (*) |
Purchase Price Per $1,000 Outstanding Principal Amount (*) |
Early Tender Premium Per $1,000 Original Principal Amount (*) |
Early Tender Premium Per $1,000 Outstanding Principal Amount (*) |
||
Class A-2 Notes Due July 2011 |
$81.06 |
$150.00 |
$40.53 |
$75.00 |
||
Class A-2L Notes Due July 2011 |
$10.81 |
$20.00 |
$16.21 |
$30.00 |
||
Class A-3 Notes Due July 2011 |
$2.50 |
$2.50 |
$5.00 |
$5.00 |
(*) For additional detail regarding pricing, please see the Offer to Purchase for the Offer, or contact the Information Agent/Tender Agent, BMC Group, Inc., at the contract information provided below.
The Offer will expire at 5:00 p.m., New York City time, on July 7, 2014, unless extended. Upon the terms and subject to the conditions of the Offer, the Offeror will pay the applicable Purchase Price and Early Tender Premium, if applicable on the "Payment Date," which will occur, at the latest, promptly following the expiration of the Offer, but may occur before the Offer expires. Holders of the Notes will only be eligible for the Early Tender Premium if they validly tender their Notes on or before 5:00 p.m., New York City time, on June 13, 2014.
There are no withdrawal rights under the terms of the Offer. The Offer is conditioned upon the satisfaction or waiver of certain conditions as described Offer to Purchase, including for the Class A-3 Notes July 2011, the Class A-3 Limited Offer Terms. The Offer to Purchase and the accompanying Letters of Transmittal for the Offer contain important information that should be read before any decision is made with respect to the Offer or the Additional Offer.
Neither the Offeror nor the Information Agent/Tender Agent makes any recommendation as to whether holders should tender Notes pursuant to the Offer. Each holder must make its own decision as to whether to tender its Notes and should consult its own attorneys, accountants and other advisors in respect of the transactions contemplated in connection with the Offer.
Questions regarding the Offer may be directed to BMC Group, Inc., the Information Agent/Tender Agent, at (212) 310-5922 or [email protected]. In addition, requests for assistance or for additional copies of the Offer to Purchase and the Letter of Transmittal may be directed to the Information Agent/Tender Agent, at the telephone number and email address set forth above.
This press release does not constitute an offer to purchase or a solicitation of an offer to sell Notes or other securities, nor shall there be any purchase of Notes in any state or jurisdiction in which such offer, solicitation or purchase would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
Forward-Looking Statements
Certain statements contained in this release are "forward-looking statements" and are prospective. These statements may be identified by their use of forward-looking terminology such as the words "expects," "projects," "believes," "anticipates," "intends" or other similar words. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations.
SOURCE HoldCo CDO Opportunities Fund Limited
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