Lendlease Finance accepts $24.8m in SGX-listed notes tender

The accepted tenders represent 9.67% of outstanding notes.

Lendlease Finance Limited has accepted all valid tenders submitted under its cash tender offer for its SGX-listed notes, with holders tendering an aggregate principal amount of $24.8m (A$29.02m) by the 15 December deadline, according to an announcement.

The tender offer invited holders to sell any and all notes for cash up to an aggregate principal amount of $64.1m (A$75.0m), subject to the terms set out in the tender offer memorandum dated 25 November.

Settlement of the tender offer is scheduled for 18 December, when payment of the purchase price and accrued interest will be made. All notes validly tendered and accepted for purchase will be cancelled and will not be re-issued or re-sold.

Following completion of the tender offer, the outstanding aggregate principal amount of notes will be $231.6m (A$270.98m). The accepted tenders represented approximately 9.67% of the total principal amount outstanding.

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