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Name | Symbol | Market | Type |
---|---|---|---|
Genfinance 39 | LSE:93RF | London | Bond |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 143.515 | 0 | 01:00:00 |
TIDM93RF
RNS Number : 4858D
GenFinance II PLC
16 May 2012
GenFinance II plc Announces Results of Consent Solicitation and Pricing of Tender Offer
GenFinance II plc (the "Issuer") has today announced the results of its invitation to holders of its outstanding GBP250,000,000 6.064% secured bonds due 2039 (the "Bonds") (XS0474146288) to approve, by Extraordinary Resolution, a proposal (the "Proposal") to amend the specified minimum denomination of the Bonds from GBP50,000 to GBP100,000 (and increments of GBP1,000 thereafter), as more fully described in the Consent Solicitation Memorandum ("CSM") and Notice of Meeting dated 24 April 2012.
The Proposal was considered and duly passed at a meeting of holders of the Bonds held on 16 May 2012. Accordingly, the modifications referred to in the Extraordinary Resolution will be implemented with effect on and from 18 May 2012.
On 18 May 2012, the Issuer will pay to each holder from whom a valid Electronic Voting Instruction was received by the Tabulation Agent before 4pm (London) on the Early Instruction Deadline (and not revoked) an amount equal to GBP0.50 for each GBP1,000 in principal amount of Bonds.
Genesis Housing Association Limited (the "Company") has also announced that it has accepted for purchase GBP200,000 in principal amount of Bonds at a Purchase Price of GBP1,152 per GBP1,000 principal amount plus accrued and unpaid interest up to, but not including the Settlement Date which is expected to be 18 May 2012 . The Purchase Price was determined in accordance with the procedure described in the CSM using a Reference Yield for the Benchmark Security of 3.088% and a Purchase Spread of +195 basis points, giving a Repurchase Yield of 5.038 %.
The Solicitation Agent is Lloyds Bank (+44 (0) 20 7158-3981 or Liability.management@lloydsbanking.com). The Tabulation Agent is The Bank of New York Mellon (+44 (0)20 7964 4958, debtrestructuring@bnymellon.com ).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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