Croatia's Agrokor launches tender offer and consent solicitation for €230 million 11% notes

By Reshmi Basu

New York, June 28 - Croatian food maker Agrokor dd plans to start a tender offer to buy back its €230 million of 11% notes due April 2007, according to a market source.

The amount to be paid for the bonds will be based on a spread of 100 basis points over the German BKO 2.5% bond due March 23, 2007.

The tender offer expires at 11 a.m. ET on July 17.

Noteholders who tender their notes before the consent deadline of 11 a.m. ET on July 10 will receive the repurchase price, which includes a consent payment of €20 per €1,000 principal amount. Those who tender after the consent deadline will not receive the consent payment.

Pricing is expected to be set at 7 a.m. ET on July 26. The settlement date is expected to be July 31.

ABN Amro is the deal manager.

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