Founder Securities unit accepts tenders for $5.59 million 6.9% notes

By Sarah Lizee

Olympia, Wash., May 6 – Hong Kong’s Founder Securities (Hong Kong) Financial Holdings Ltd. announced the results of First FZ Bond Ltd.’s offer to purchase for cash up to $70 million of its $200 million 6.9% guaranteed bonds due 2020 (ISIN: XS1892347086), according to a notice.

By the expiration time, 11 a.m. ET on May 5, $5.59 million, or 2.8%, of the bonds were tendered under the offer. The company said it will accept all bonds tendered under the offer.

The purchase price is $900 per $1,000 of notes. Holders will also receive accrued interest.

Following settlement, which is expected for May 11, $194.41 million of the bonds will remain outstanding.

The company said the purpose of the offer is to improve and extend its debt maturity profile.

Founder Securities (Hong Kong) Ltd. (+852 3798 3333 or gcm@hkfoundersc.com) is acting as the dealer manager and D.F King Ltd. (+44 20 7920 9700, +852 3952 7208 or firstfz@dfkingltd.com) is acting as the information and tender agent.

The financial services company is based in Hong Kong.

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