Sammaan Capital Limited has announced a tender offer to purchase for cash up to U.S.$45 million of its outstanding 7.5% Senior Secured Social Bonds due 2030. The offer aims to utilize cash on the balance sheet to provide liquidity to bondholders. The company is offering U.S.$1,000 per U.S.$1,000 principal amount for bonds tendered by the specified deadlines, subject to the conditions detailed in the tender offer memorandum.
Tender Offer Details
Sammaan Capital Limited is initiating a tender offer for its 7.5% Senior Secured Social Bonds due 2030. The company plans to acquire up to U.S.$45,000,000 in aggregate principal amount of the outstanding U.S.$450,000,000 bonds. The primary objective of this move is to provide liquidity to bondholders by purchasing a portion of the outstanding bonds at par using existing cash reserves.
Key Deadlines and Consideration
The company has established specific deadlines for participation:
- Early Tender Deadline: Bondholders must tender their bonds by 5:00 P.M. Central European Time on April 20, 2026, to be eligible for the Early Tender Offer Consideration of U.S.$1,000 per U.S.$1,000 principal amount.
- Expiration Time: The final deadline for participation is 5:00 P.M. Central European Time on May 5, 2026. Bonds tendered between the early deadline and this time will be eligible for the Tender Offer Consideration of U.S.$1,000 per U.S.$1,000 principal amount.
In addition to the consideration, the company will pay accrued and unpaid interest on all bonds accepted for purchase up to the applicable payment date.
Acceptance and Payment
The company expects the Early Acceptance Date to occur on or about April 21, 2026, with payment expected around April 24, 2026. The Final Acceptance Date is anticipated on or about May 6, 2026, with final payments expected on or before May 7, 2026. All tender instructions are irrevocable once submitted, and the offer is subject to the conditions outlined in the tender offer memorandum.
Source: BSE
