China's First Pacific announces tenders for units’ 2017, 2020 bonds

By Wendy Van Sickle

Columbus, Ohio, Jan. 3 – First Pacific Co. Ltd. announced tender offers for any and all of the $287.48 million of 7 3/8% bonds due July 24, 2017 issued by FPMH Finance Ltd. and for up to $200 million of the $395.4 million of 6 3/% bonds due Sept. 28, 2020 issued by FPT Finance Ltd., according to a notice.

The purchase price will be 103.25 for the 2017 bonds and 109 for the 2020 bonds.

The company will also pay accrued interest to the settlement date, which is expected to be Jan. 18.

If the tender offer for the 2020 bonds is oversubscribed, the bonds will be accepted on a pro rata basis.

The offers will expire at 10:59 a.m. ET on Jan. 12.

Hongkong and Shanghai Banking Corp. Ltd. (+852 2822 4100, +44 20 7992 6237 or liability.management@hsbcib.com) is dealer manager for the offers.

D.F. King Ltd. (+852 3953 7230, +44 20 7920 9700 or firstpacific@dfkingltd.com) is tender and information agent.

First Pacific is a Hong Kong-based investment and management company in the telecommunications, infrastructure, consumer food products and natural resources industries.

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