Brief: Turk Telekom Announces Early Participation Results Of 2025 Tender Offer

Turk Telekomunikasyon

22/05/2024 06:51

May 22 (Reuters) - TÜRK TELEKOMÜNİKASYON  TTKOM.IS :
    * SAID ON TUESDAY  TÜRK TELEKOM ANNOUNCES EARLY
PARTICIPATION
RESULTS OF TENDER OFFER 
    * TURK TELEKOM HAS INVITED THE HOLDERS OF ITS OUTSTANDING
$500.0
MILLION 6.875% NOTES DUE 2025 TO TENDER FOR PURCHASE FOR CASH
THEIR OUTSTANDING NOTES, SUCH THAT THE TOTAL AGGREGATE PRINCIPAL
AMOUNT OF NOTES VALIDLY TENDERED AND ACCEPTED FOR PURCHASE BY
THE COMPANY PURSUANT TO THE TENDER OFFER IS NO GREATER THAN THE
MAXIMUM ACCEPTANCE AMOUNT 
    * THE TENDER OFFER IS SUBJECT TO OFFER AND DISTRIBUTION
RESTRICTIONS SET OUT BELOW AND IS BEING MADE UPON THE TERMS AND
SUBJECT TO THE CONDITIONS SET FORTH IN THE TENDER OFFER
MEMORANDUM DATED 7 MAY 2024
    * ALTHOUGH TENDER OFFER WILL FINALLY EXPIRE AT 0500 P.M.
(NEW YORK
CITY TIME) ON 5 JUNE 2024, UNLESS EXTENDED BY THE COMPANY, AS
AGGREGATE PRINCIPAL AMOUNT OF THE NOTES TENDERED AT OR PRIOR TO
EARLY TENDER DEADLINE WAS GREATER THAN THE MAXIMUM ACCEPTANCE
AMOUNT, NO NOTES TENDERED AFTER EARLY TENDER DEADLINE WILL BE
ACCEPTED FOR PURCHASE
    * BECAUSE THE TENDER OFFER WAS OVERSUBSCRIBED, THE COMPANY
HAS
ACCEPTED NOTES FOR PURCHASE ON A PRORATED BASIS
    * IF SUCH PRORATION AND ROUNDING DOWN WOULD RESULT IN (I)
THE
RELEVANT HOLDER TRANSFERRING NOTES TO THE COMPANY IN A PRINCIPAL
AMOUNT OF LESS THAN THE MINIMUM DENOMINATION, OR (II) NOTES IN A
PRINCIPAL AMOUNT OF LESS THAN THE MINIMUM DENOMINATION BEING
RETURNED TO A HOLDER, THEN THE COMPANY HAS, IN ITS SOLE AND
ABSOLUTE DISCRETION, PURCHASED ALL OF SUCH HOLDER’S VALIDLY
TENDERED NOTES, WITHOUT APPLYING PRORATION
    * EARLY PAYMENT DATE FOR PAYMENT OF THE EARLY TENDER OFFER
CONSIDERATION AND THE ACCRUED INTEREST AMOUNT IN  RESPECT OF ALL
NOTES VALIDLY TENDERED AND NOT VALIDLY WITHDRAWN AT OR PRIOR TO
THE EARLY TENDER DEADLINE AND ACCEPTED  FOR PURCHASE BY THE
COMPANY IS EXPECTED TO TAKE PLACE ON OR AROUND 22 MAY 2024

        
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 Further company coverage:  TTKOM.IS  

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