Kerzner Commences Tender Offer and Consent Solicitation Relating To 6 3/4% Senior Subordinated Notes Due 2015
01 Août 2006 - 1:00PM
Business Wire
Kerzner International Limited (NYSE: KZL) (the "Company"), through
its subsidiaries a leading international developer and operator of
destination resorts, casinos and luxury hotels, and its wholly
owned subsidiary, Kerzner International North America, Inc.
("KINA"), announced today that they are commencing a cash tender
offer to purchase any and all of their outstanding 6 3/4% Senior
Subordinated Notes due 2015. The tender offer is being made
pursuant to an Offer to Purchase and Consent Solicitation Statement
(the "Statement") and a related Letter of Transmittal and Consent,
each dated August 1, 2006. The tender offer is scheduled to expire
at 12:01 a.m., New York City time, on August 29, 2006, unless
extended to a later date or time or earlier terminated. In
conjunction with the tender offer, the Company and KINA will be
soliciting consents to proposed amendments to the indenture
governing the notes that would eliminate substantially all of the
restrictive covenants and certain events of default and related
provisions contained in the indenture governing the notes. Holders
that tender their notes will be required to consent to the proposed
amendments, and holders that consent to the proposed amendments
will be required to tender their notes. Subject to the terms and
conditions set forth in the Statement, the total consideration to
be paid for each properly delivered consent and validly tendered
(and not withdrawn) note accepted for payment on or prior to 5:00
p.m., New York City time, on August 15, 2006 (the "Consent Date")
and accepted for payment will be $1,071.67 per $1,000.00 of
principal amount, plus accrued and unpaid interest. The total
consideration for each note tendered includes an early consent
premium of $20.00 per $1,000.00 of principal amount of notes
payable only to those holders that tender their Notes on or prior
to 5:00 p.m., New York City time, on the Consent Date. Holders that
properly deliver consents and validly tender (and do not withdraw)
notes after that time but prior to the expiration of the tender
offer will receive $1,051.67 per $1,000.00 of principal amount,
plus accrued and unpaid interest. Holders will receive payment
promptly after the expiration date for the tender offer, which is
currently scheduled to be August 29, 2006. Tenders of notes and
deliveries of consents made on or prior to 5:00 p.m., New York City
time, on the Consent Date, may be withdrawn or revoked at any time
on or before the Consent Date. Tenders of notes made after 5:00
p.m., New York City time, on the Consent Date, may be withdrawn at
any time until 12:01 a.m., New York City time, on the expiration
date for the tender offer. The tender offer is conditioned upon
consummation of the acquisition of the Company by an investor group
and a minimum tender condition, as well as other general
conditions. Copies of the tender offer and consent solicitation
documents can be obtained by contacting MacKenzie Partners, Inc.,
the Information Agent for the tender offer and consent
solicitation, at 800-322-2885 (toll free) and 212-929-5500.
Deutsche Bank Securities Inc. is acting as Dealer Manager for the
tender offer and Solicitation Agent for the consent solicitation.
Questions concerning the tender offer and consent solicitation may
be directed to Deutsche Bank Securities Inc., High Yield Capital
Markets, at 800-553-2826 (toll free). This press release is not an
offer to purchase nor a solicitation of acceptance of the offer to
purchase, which may be made only pursuant to the terms of the
Statement and the related Letter of Transmittal and Consent. The
consent solicitation is being made solely by the Statement, and
related documents (as may be amended from time to time), and those
documents should be consulted for additional information regarding
delivery procedures and the conditions of the tender offer and
consent solicitation. This press release contains forward-looking
statements, which are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties,
including the risks and uncertainties that are described in the
Company's recent public filings with the U.S. Securities and
Exchange Commission. Investor inquiries regarding the Company
should be directed to Omar Palacios at +1.242.363.6018. Media
inquiries should be directed to Lauren Snyder at +1.242.363.6018.
Kerzner (NYSE:KZL)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Kerzner (NYSE:KZL)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024
Real-Time news about Kerzner (New York Stock Exchange): 0 recent articles
Plus d'articles sur Kerzner International Limited