top of page

MAF Global Securities Limited - Tender Offer - Results

MAF GLOBAL SECURITIES LIMITED ANNOUNCES RESULTS AND ACCEPTANCE OF TENDER OFFER


31 MAY 2023


Full announcement including disclaimers and offer restrictions available via Euronext


...


"Further to its announcement on 22 May 2023, the Issuer hereby confirms that as at 17.00 CET on 30 May 2023, being the Expiration Deadline for the Offer, it had received valid Tender Instructions in respect of U.S.$516,413,000 in aggregate principal amount of Notes. The Issuer intends to exercise its right, as described in the Tender Offer Memorandum, to accept for purchase an aggregate principal amount of Notes that is more than the Maximum Acceptance Amount and accept for purchase all validly tendered Notes in full without pro-ration.


The Issuer further hereby announces that: (i) the Final Acceptance Amount; (ii) the principal amount of Notes that will remain outstanding after the Settlement Date; and (iii) the expected Accrued Interest Payment in respect of all Notes accepted for purchase by the Issuer are as set out in the table below:"



"Subject to satisfaction (without limitation) of the New Financing Condition, the Issuer expects settlement of the Offer to take place on 2 June 2023."


...

 

MAF GLOBAL SECURITIES LIMITED ANNOUNCES A TENDER OFFER TO PURCHASE NOTES FOR CASH AND MAF SUKUK LTD. ANNOUNCES INTENTION TO ISSUE NEW USD GREEN TRUST CERTIFICATES


22 MAY 2023


Full announcement including disclaimers and offer restrictions available via Euronext


"MAF Global Securities Limited (the "Issuer") has today launched an invitation to holders of its outstanding U.S.$800,000,000 4.750 per cent. Notes due 2024 (ISIN: XS1064799841) (the "Notes") irrevocably guaranteed on a joint and several basis by Majid Al Futtaim Holding LLC and Majid Al Futtaim Properties LLC (together, the "Guarantors"), to tender such Notes for purchase by the Issuer for cash (such invitation being, the "Offer"), subject to the satisfaction (without limitation) or waiver of the New Financing Condition (as defined below) and the other terms and conditions of the Offer described in a tender offer memorandum dated 22 May 2023 (the "Tender Offer Memorandum")."


...



...


"Rationale for the Offer


The purpose of the Offer is to optimise the Issuer's balance sheet structure."


...


New Financing Condition


The Issuer is not under any obligation to accept for purchase any Notes tendered pursuant to the Offer. The acceptance for purchase by the Issuer of Notes tendered pursuant to the Offer is at the sole and absolute discretion of the Issuer and tenders may be rejected by the Issuer for any reason.


MAF Sukuk Ltd. announces its intention to issue new U.S. dollar-denominated green trust certificates guaranteed by the Guarantors (the "New Trust Certificates"). Whether the Issuer will accept for purchase any Notes validly tendered in the Offer is subject (unless such condition is waived by the Issuer in its sole and absolute discretion), without limitation, to the successful completion of the issue of the New Trust Certificates or such other financing as the Issuer may determine on terms acceptable to it (in each case as determined by the Issuer in its sole and absolute discretion) (the "New Financing Condition").


...

Tags:

0 views0 comments

Comments


bottom of page