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Sagicor Financial Company Ltd. Launches Cash Tender Offer for Any and All 8.875% Senior Notes due 2022 Issued by Sagicor Finance (2015) Limited and New Notes Issuance
Sagicor Financial Company Ltd. Launches Cash Tender Offer for Any and All 8.875% Senior N...
About this update from Sagicor Financial Co. Ltd. Class A
[{"type":"text","content":"\n \n \n \n Sagicor Financial Company Ltd. Launches Cash Tender Offer for Any and All 8.875% Senior Notes due 2022 Issued by Sagicor Finance (2015) Limited and New Notes Issuance\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 3, 2021\n \n /CNW/ - Sagicor Financial Company Ltd. (\"Sagicor\" or the \"Company\") today announced that it has commenced a 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\").\n \n \n The Tender Offer will expire 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 , unless extended or earlier terminated by the Company.  It is anticipated that the settlement date will be on\n \n May 13, 2021\n \n . The dealer managers for the Tender Offer are J.P. Morgan Securities LLC and RBC Capital Markets, LLC.\n \n \n The obligation of the Company to accept and pay for Securities in the Tender Offer 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 (the \"New Notes\") on terms satisfactory to the Company, in its sole discretion (the \"New Notes Issuance\"), generating net proceeds in an amount sufficient pay for the repurchase of the Securities pursuant to the Tender Offer (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. The Tender Offer is not conditioned upon any minimum amount of Securities being tendered.\n \n \n The New Notes to be issued in the separate New Notes Issuance have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the \"Securities Act\"), any Canadian securities laws or any securities laws of any other jurisdiction. The New Notes are being offered and sold in the separate New ...