Turkiye Sise plans to increase tender cap for 4¼% notes due 2020

By Marisa Wong

Morgantown, W.Va., March 7 – Turkiye Sise ve Cam Fabrikalari AS announced it intends to increase the maximum tender amount of its tender offer for its 4¼% notes due 2020.

The company plans to increase the tender cap to up to $250 million if and to the extent that the principal amount of new notes issued in a concurrent offering is greater than $550 million.

The company had launched the tender offer on March 1, offering to purchase up to $50 million of its $500 million of outstanding 4¼% notes due 2020 until 11:59 p.m. ET on March 28.

The notes are partially and severally guaranteed by Trakya Cam Sanayii AS, Soda Sanayii AS and Anadolu Cam Sanayii AS.

The total purchase price will be $1,000 per $1,000 principal amount of notes tendered by the early deadline of 5 p.m. ET on March 14. The total amount includes an early tender premium of $30 per $1,000 principal amount.

Holders will also receive accrued interest up to but excluding the settlement date.

Tenders may be withdrawn before the early deadline.

The company is holding the tender offer to acquire some of the outstanding notes, according to a previous company announcement.

The dealer managers are Citigroup Global Markets Ltd. (212 723-6106, 800 558-3745, +44 20 7986 8969 or liabilitymanagement.europe@citi.com) and J.P. Morgan Securities plc (+44 20 7134 2468 or em_europe_lm@jpmorgan.com).

The information and tender agent is Citibank, NA, London Branch (+44 20 7508 3867 or exchange.gats@citi.com).

Turkiye Sise manufactures and sells glass and is based in Istanbul.

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