In order to view all images, please register and log in. This will also allow you to comment on our stories and have the option to receive our email alerts. Click here to register
14.10.2020

Maximum bond buy back over subscribed

Maxim Crane Works has announced the results of its cash repurchase offer for up to $132.4 million of its outstanding 10.125 percent Second Priority Senior Secured Notes maturing in 2024 - see: Maximum in bond buy back.

A total of $184.7 million or 33.9 percent of the outstanding notes were validly tendered, the company set a clearing price of $1,027.50 per $1,000 of principal based on the prices tendered in the Dutch auction. In total $132.39 million worth of notes were tendered at or below that price.

Holders whose notes have been accepted for purchase will receive $1,027.50 per $1,000 principal amount/face value, which includes the Early Tender Premium of $30.00 per $1,000. The settlement date is today.

Comments