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Sagicor Financial Company Ltd. Announces Expiration and Results of Cash Tender Offer for Any and All 8.875% Senior Notes due 2022 issued by Sagicor Finance (2015) Limited and Note Purchase Agreement
Sagicor Financial Company Ltd. Announces Expiration and Results of Cash Tender Offer for ...
About this update from Sagicor Financial Co. Ltd. Class A
[{"type":"text","content":"\n \n \n \n Sagicor Financial Company Ltd. Announces Expiration and Results of Cash Tender Offer for Any and All 8.875% Senior Notes due 2022 issued by Sagicor Finance (2015) Limited and Note Purchase Agreement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n and\n \n BARBADOS\n \n ,\n \n May 7, 2021\n \n /CNW/ - Sagicor Financial Company Ltd. (\"Sagicor\" or the \"Company\") today announced that its previously announced cash tender offer (the \"Tender Offer\") for any and all of the outstanding 8.875% Senior Notes due 2022 issued by its subsidiary Sagicor Finance (2015) Limited (the \"Securities\") expired at\n \n 5:00 p.m.\n \n ,\n \n New York City\n \n time, on\n \n May 7, 2021\n \n (such date and time, the \"Expiration Date\"). The dealer managers for the Tender Offer are J.P. Morgan Securities LLC and RBC Capital Markets, LLC.\n \n \n As of the Expiration Date, a total of U.S.\n \n $130,164,000\n \n aggregate principal amount of the Securities had been validly tendered and not validly withdrawn pursuant to the Tender Offer (the \"Tendered Securities\"). No Securities were tendered pursuant to the guaranteed delivery procedures described in the applicable offering documents.\n \n \n The total cash payment to purchase the Tendered Securities on the settlement date of\n \n May 13, 2021\n \n , including accrued interest, will be approximately U.S.\n \n $134,418,000\n \n .\n \n \n The obligation of the Company to accept and pay for Tendered Securities is subject to the satisfaction or waiver of a number of conditions, including the receipt by the Company of proceeds from the proposed separate issuance of securities on terms satisfactory to the Company, generating net proceeds in an amount that is sufficient to effect the repurchase of the Tendered Securities (the \"Financing Condition\"). The Company reserves the right, in its sole discretion, to waive any and all conditions of the Tender Offer, including the Financing Condition, at or prior to the settlement date.\n \n \n The Company also announced that ...