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Citigroup gets tenders for $14.5 million of Skytop's income notes
By Angela McDaniels
Tacoma, Wash., Oct. 17 - Citigroup Global Markets Inc. received tenders for $14.5 million principal amount, or 46.77%, of Skytop CLO Ltd.'s $31 million of outstanding income notes due 2018, according to a company news release.
A tender offer for the notes began Sept. 16 and expired at 11:59 p.m. ET on Oct. 14.
Citigroup will pay $400 for each $1,000 principal amount of notes.
Holders had to tender at least $500,000 of notes in order to participate.
The offer was conditioned on the receipt of tenders for at least $4,166,667 principal amount of notes. The offer was not conditioned on financing.
Holder of Skytop's class Q securities due 2018 could participate in the offer after exchanging all of their class Q securities for interests in the underlying components.
The information agent and depositary was Global Bondholder Services Corp. (212 430-3774 for banks and brokers only; others call 866 294-2200). Questions about the offer should be directed to Citi, attention John Clements, managing director, structured credit group, at 212 723-6173.
Citigroup is a financial services company based in New York.
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