Hertford Ventures makes offer to buy PineBridge Investments 6% notes

Chicago, Jan. 24 – Hertford Ventures Ltd. is making an offer to buy up to $35 million of notes from PineBridge Investments, LP’s issue of 6% notes due 2024 (ISIN: XS2049814814) that were issued through general partner Bridge Holdings Co. Ltd., according to a publication.

The $340 million of outstanding notes were sold in two parts, $250 million that was consolidated and formed a single series with a separate $90 million sale.

Hertford is offering a tender price of 97.66, plus accrued interest.

The issuer is aware of the tender offer and has no objection to it, but has not reviewed the tender offer.

Hertford holds around 15.47% of the outstanding principal amount of notes.

The rationale for the offer is to demonstrate support for the issuer and the secondary performance of the notes.

Additionally, Hertford thinks that the notes offer promising prospects for strong returns at current market prices.

Both Bridge and Hertford are part of Pacific Century Group, a private investment group.

Tenders may be subject to proration.

The offer expires at 11 a.m. ET on Jan. 28.

Settlement is planned for Feb. 8.

J.P. Morgan Securities (Asia Pacific) Ltd. is the dealer manager (+852 2800 7632/1032, Liability_Management_HK@jpmorgan.com).

The information and tender agent is Morrow Sodali Ltd. (+44 20 4513 6933, +852 2319 4130, pcg2@investor.morrowsodali.com, https://bonds.morrowsodali.com/pcg2).

PineBridge is a New York City-based asset management firm.

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