trending Market Intelligence /marketintelligence/en/news-insights/trending/wcfrdy-_kxhiwx45i3vvdw2 content esgSubNav
In This List

Stearns Holdings discloses results of tender offer to buy back notes

Blog

Latin American and Caribbean Market Considerations Blog Series: Focus on LGD

BLOG

Banking Essentials Newsletter: June Edition

Case Study

กรณีศึกษา A Bank Takes its Project Finance Assessments to a New Level

Blog

Financial Institutions Factor Transition Risk into Climate-Related Stress Testing


Stearns Holdings discloses results of tender offer to buy back notes

Stearns Holdings LLC and Stearns Co-Issuer Inc. disclosed the results of a cash tender offer to buy back up to $80.0 million of its outstanding 9.375% senior secured notes due 2020.

Pursuant to the tender offer, about $60.0 million, or 24% of the total principal amount outstanding, of the outstanding 9.375% notes were validly tendered at or prior to 11:59 p.m. ET on May 10.

The settlement date is expected to be May 14. The total cash payment to purchase the accepted notes on May 14 will be about $61.4 million.

All notes purchased pursuant to the tender offer will be canceled.