NCIG Launches Cash Tender Offer for All Outstanding Senior Secured Notes Due in 2027
Newcastle Coal Infrastructure Group Pty Ltd (NCIG) has initiated a cash tender offer to repurchase all of its outstanding 4.400% Guaranteed Senior Secured Notes due in 2026, with an original principal amount of $400 million and current amortized value of approximately $385 million. The tender is scheduled to expire on September 23, 2026 at 5:00 p.m. New York time unless extended by the company. Holders who accept the offer will receive a total consideration based on the original principal amount multiplied by an established factor and adjusted for market conditions using reference U.S. Treasury securities. The tender price is determined in relation to the yield of the 3.50% UST due September 2027, with a fixed spread of +50 basis points applied at 3:00 p.m., New York time on the Price Determination Date.
Topics: debt securities Newcastle Coal Infrastructure Group tender offer