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- Release Date: 15/08/13 14:44
- Summary: GENERAL: FSF: UNSOLICITED OFFER FOR FONTERRA BONDS
- Price Sensitive: No
- Download Document 1.52KB
FSF
15/08/2013 12:44
GENERAL
REL: 1244 HRS Fonterra Shareholders' Fund (NS)
GENERAL: FSF: UNSOLICITED OFFER FOR FONTERRA BONDS
UNSOLICITED OFFER FOR FONTERRA BONDS FROM WASHINGTON SECURITIES PTY LTD
Fonterra Co-operative Group Limited has received notice from Washington
Securities Pty Ltd that it intends to make an unsolicited offer to
bondholders to purchase their Fonterra 7.75% bonds due 10/03/15 (NZX:
FCG010).
Washington Securities is intending to offer bondholders $0.80 per bond,
significantly less than the current market value (which was $1.07438 per bond
at the close of trade on Wednesday 14 August 2013).
The proposed offer is expected to open on 19 August and close on 7 October
2013. However, bondholders should be aware that Washington Securities may
make further offers to targeted groups of bondholders over the next six
months.
This is not the first time Washington Securities has made unsolicited offers
to New Zealand investors, having targeted other listed debt and equity
issuers in recent months.
Fonterra strongly recommends that any bondholder who receives a letter from
Washington seek independent financial advice and check the most recent market
price for their bonds at www.nzx.com/markets/NZDX/bonds/FCG010.
Bondholders are under no obligation to accept any offer or to take any action
in respect of it. Further, bondholders have the right to cancel any
acceptance of the offer up to 10 working days after the date on which they
accepted the offer.
End CA:00239723 For:FSF Type:GENERAL Time:2013-08-15 12:44:39
