IOI Corp Unit Sets Final Acceptance Amount at US$295.22m in Cash Tender Offer for US$600m Bonds
KUALA LUMPUR (Oct 28): IOI Corp Bhd said on Thursday (Oct 28) its unit IOI Investment (L) Bhd has decided to set the final acceptance amount at US$295.22 million (about RM1.23 billion) for the oil palm plantation group's US$600 million bond cash tender offer which expired at 4pm (London, UK time) on Wednesday (Oct 27).
In a Bursa Malaysia filing on Thursday, IOI Corp said the expected settlement date for the offer is Nov 9, 2021.
"Following settlement of the offer, US$304.78 million in an aggregate nominal amount of the notes will remain outstanding," IOI Corp said.
IOI Investment's US$600 million bonds, which are due in 2022, pays an annual interest rate of 4.375%, according to IOI Corp, which is the guarantor of the securities under IOI Investment's US$1.5 billion Euro medium-term note programme.
At Bursa's 12.30pm break on Thursday, IOI Corp's share price slipped five sen or 1.24% to RM3.97, giving the company a market value of about RM24.69 billion.
IOI Corp's latest reported number of issued shares stood at 6.22 billion, according to its Bursa filing on Tuesday (Oct 26).