Petropavlovsk PLC - gold miner in Russia - Launches tender offer to purchase maximum of USD200 million of 8.125% guaranteed notes due 2022. A total of USD500 million of these notes are outstanding. Not including accrued interest, Petropavlovsk will pay USD1,055 per USD1,000 principal amount of notes. Company adds: "In addition to the tender offer consideration or the total consideration, as applicable, all holders of notes accepted for purchase will also receive accrued and unpaid interest on such notes, rounded to the nearest USD0.01 per USD1,000 principal amount of notes." Undertaking tender offer to manage upcoming debt redemptions and lower cost of debt portfolio,it says.
Current stock price: 22.84 pence
Year-to-date change: down 30%
By Eric Cunha; ericcunha@alliancenews.com
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