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- Release Date: 07/06/12 10:34
- Summary: S/HOLDER: VCT: Outcome of Capital Bond Election Process
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VCT
07/06/2012 08:34
S/HOLDER
REL: 0834 HRS Vector Limited
S/HOLDER: VCT: Outcome of Capital Bond Election Process
Vector Announces Outcome of Capital Bond Election Process
The Election Date for Vector's $307,205,000 Capital Bonds (VCT040) is 15 June
2012.
On 3 May 2012, Bondholders were sent an Election Notice and explanatory notes
outlining modified terms and conditions of the Capital Bonds for the period
from 15 June 2012 until the next election date of 15 June 2017.
Bondholders had until 5pm on 31 May 2012 to respond to the Election Notice.
The outcome of the Election Notice process is as follows:
- $262,651,334 of Capital Bonds were retained by existing Bondholders.
- $44,553,666 of Capital Bonds were offered for sale by existing Bondholders
under the Resale Facility established by Vector.
All of the Capital Bonds offered for sale by existing Bondholders under the
Resale Facility will be purchased by Vector and held for resale in accordance
with the terms and conditions of the Capital Bonds. Vector decided to
purchase all of the Capital Bonds in the Resale Facility given current market
interest rates and the high level of rollover achieved.
All existing Bondholders who requested to purchase additional Capital Bonds
through the Resale Facility will have the amount paid by them for additional
Capital Bonds refunded as soon as possible but in any event no later than 11
June 2012.
All sales of Capital Bonds offered for sale under the Resale Facility will
settle on 15 June 2012.
Vector Chairman Michael Stiassny commented that the company was delighted
with the outcome of the Election Process, with 85% of the Capital Bonds being
retained by existing Bondholders.
End CA:00223638 For:VCT Type:S/HOLDER Time:2012-06-07 08:34:13
