Columbia Point Commences Tender Offer to Acquire Outstanding Notes of Pebble Creek LCDO 2006-1, Airlie CDO I and Airlie LCDO II (Pebble Creek 2007-1)
NEW YORK, Sept. 29 /PRNewswire/ -- Columbia Point Limited (the "Offeror"), a wholly owned subsidiary of Elliott International, L.P., has commenced tender offers for the following notes:
- Pebble Creek LCDO Offer: The Class C Floating Rate Notes Due 2013 (CUSIP No. 70509PAE3) and Class D Floating Rate Deferrable Notes Due 2013 (CUSIP No. 70509PAG8) co-issued by Pebble Creek LCDO 2006-1, Ltd. and Pebble Creek LCDO 2006-1, Corp (the "Pebble Creek LCDO Notes");
- Airlie CDO I Offer: The Class B Floating Rate Deferrable Notes Due 2014 (CUSIP No. 00936KAB0), the Class C Floating Rate Deferrable Notes Due 2014 (CUSIP Nos. 00936KAC8 and G0134PAC0) and the Class D Floating Rate Deferrable Notes Due 2014 (CUSIP Nos. 00936KAD6, 00936KAH7 and G0134PAD8) co-issued by Airlie CDO I, Ltd. and Airlie CDO I, Corp. (the "Airlie CDO I Notes"); and
- Airlie LCDO II Offer: The Class C Floating Rate Notes Due 2014 (CUSIP No. 00936HAE1) and the Class D Floating Rate Deferrable Notes Due 2014 (CUSIP No. 00936HAG6) co-Issued by Airlie LCDO II (Pebble Creek 2007-1), LTD. and Airlie LCDO II (Pebble Creek 2007-1), Corp. (the "Airlie LCDO II Notes" and together with the Pebble Creek LCDO Notes and the Airlie CDO I Notes, the "Notes").
The Pebble Creek LCDO Offer
The Offeror is offering to purchase all of the Pebble Creek LCDO Notes upon the terms and subject to the conditions set forth in an Offer to Purchase for Cash dated September 28, 2010. If the Pebble Creek LCDO Offer is consummated, the Offeror will pay a cash purchase price equal to 31% of the principal amount of the Class C Notes and 29% of the principal amount of the Class D Notes that have been validly tendered and accepted for purchase but will not pay for any accrued or capitalized unpaid interest thereon. The Offer is subject to satisfaction of certain conditions set out in the Offer to Purchase for Cash, including the condition that all of the Pebble Creek LCDO Notes validly tendered in the Offer would, together with the Pebble Creek LCDO Notes held by the Offeror and its affiliates, represent at least 75% of the aggregate principal amount of the Pebble Creek LCDO Notes. At the commencement of the Pebble Creek LCDO Offer, the Offeror and its affiliates held approximately 50% of the Class C Notes and 63% of the Class D Notes.
The Airlie CDO I Offer
The Offeror is offering to purchase all of the Airlie CDO I Notes for cash, upon the terms and subject to the conditions set forth in an Offer to Purchase for Cash dated September 28, 2010. If the Airlie CDO I Offer is consummated, the Offeror will pay a cash purchase price equal to 33% of the principal amount of the Class B Notes, 31% of the principal amount of the Class C Notes and 29% of the principal amount of the Class D Notes that have been validly tendered and accepted for purchase but will not pay for any accrued or capitalized unpaid interest thereon. The Offer is subject to satisfaction of certain conditions set out in the Offer to Purchase for Cash, including the condition that all of the Airlie CDO I Notes validly tendered in the Offer would, together with the Airlie CDO I Notes held by the Offeror and its affiliates, represent at least 65% of the aggregate principal amount of the Airlie CDO I Notes. At the commencement of the Airlie CDO I Offer, the Offeror and its affiliates held approximately 71% of the Issuer's Class B Notes, 37% of the Issuer's Class C Notes and 6% of the Issuer's Class D Notes.
The Airlie LCDO II Offer
The Offeror is offering to purchase all of the Airlie LCDO II Notes for cash, upon the terms and subject to the conditions set forth in an Offer to Purchase for Cash dated September 28, 2010. If the Airlie LCDO II Offer is consummated, the Offeror will pay a cash purchase price equal to 31% of the principal amount of the Class C Notes and 29% of the principal amount of the Class D Notes that have been validly tendered and accepted for purchase but will not pay for any accrued or capitalized unpaid interest thereon. The Offer is subject to satisfaction of certain conditions set out in the Offer to Purchase for Cash, including the condition that all of the Airlie LCDO II Notes validly tendered in the Offer would, together with the Airlie LCDO II Notes held by the Offeror and its affiliates, represent at least 75% of the aggregate principal amount of the Airlie LCDO II Notes. At the commencement of the Airlie LCDO II Offer, the Offeror and its affiliates held approximately 63% of the Class C Notes and 69% of the Class D Notes.
Expiration of the Offers
Pursuant to the offers' terms, the offer and withdrawal rights will expire at 5:00 p.m. New York City time on Wednesday, October 27, 2010, unless extended.
IMPORTANT NOTICE: This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any of the Notes. The Offer to Purchase, Letter of Transmittal and related documents are available from the Offeror at: Columbia Point Limited, c/o Elliott Management Corporation; 712 Fifth Avenue, 35th floor; New York, NY, 10019; Attention: Mr. Daniel Wang; Telephone: +1 212 506 2999; Email: [email protected]. The solicitation of offers to buy the Notes will only be made pursuant to each Offer to Purchase, Letter of Transmittal and related documents. The tender offers will expire at 5:00 p.m. New York City time on October 27, 2010, unless extended in the manner set forth in each Offer to Purchase. Investors and noteholders should seek legal or other professional advice before acting or relying on any of the information provided above.
SOURCE Elliott Management Corporation
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