No takers for Marubeni bond offer
Published: Wednesday | May 13, 2009
Tomofumi Fukuda, president of Marubeni Caribbean Power Holdings. - File
MaruEnergy Trinidad's (MET) offer to buy back its outstanding 7.017 per cent notes seven years before maturity was not taken up by bondholders.
The offer closed May 7 "with no notes validly tendered and accepted for purchase by MET," said MaruEnergy Caribbean Limited.
An earlier cash offer for the bonds by another Marubeni subsidiary - Marubeni Power (Cayman Islands) Finance Limited - had resulted in take-up of about 39 per cent of the outstanding bonds.
Marubeni Power paid US$38.985 million "in aggregate principal" to redeem those bonds.
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