Sammaan Capital has announced the successful early closure of its tender offer for U.S.$45 million of its 7.5% Senior Secured Social Bonds due 2030. Due to high demand, the company applied a scaling factor of approximately 38.147% to valid tenders. The company will pay the Early Tender Offer Consideration, with a scheduled settlement date of April 24, 2026. Bonds not accepted will remain outstanding and continue to accrue interest.
Tender Offer Results
Following the Early Tender Deadline on April 20, 2026, Sammaan Capital has officially closed the tender offer for its 7.5% Senior Secured Social Bonds due 2030. The total aggregate principal amount validly tendered exceeded the Maximum Purchase Amount of U.S.$45,000,000. As a result, the company has elected to accept this maximum amount for purchase.
Scaling and Settlement Details
To manage the excess demand, the company implemented a Scaling Factor of 38.147% for all valid tenders submitted by the deadline. To ensure fairness, the company has opted to accept tenders in full where the proration would have resulted in an acceptance of less than U.S.$200,000. The Early Payment Date for the accepted bonds is set for April 24, 2026. Holders will receive the Early Tender Offer Consideration of U.S.$1,000 per U.S.$1,000 principal amount, alongside accrued and unpaid interest.
Future Status of Bonds
The company confirmed that all bonds purchased through this offer will be canceled. Any bonds not validly tendered or accepted under the terms of the offer will remain outstanding and will continue to accrue interest under their original terms. The broader tender offer remains open until the Expiration Time on May 5, 2026, though the company will not accept further bonds related to this specific maximum purchase threshold.
Source: BSE
