NEW YORK–(Business enterprise WIRE)–Drawbridge Distinctive Prospects Fund LP and Drawbridge Special Alternatives Finance Company (together, the “Co-Issuers”) nowadays announced that they have commenced a income tender offer (the “Tender Offer”) for any and all of their superb 5.00% Senior Notes owing 2021 (the “Notes”), on the conditions and problems described in the Co-Issuers’ Give to Invest in, dated January 19, 2021 (as amended or supplemented, the “Offer to Purchase”), and its accompanying detect of confirmed shipping and delivery (the “Notice of Assured Delivery”).
The Tender Give will expire at 5:00 p.m., New York City time, on January 25, 2021, except prolonged by the Co-Issuers in their sole discretion (this kind of day and time, as the same might be prolonged, the “Expiration Time”). Holders who (i) validly tender their Notes prior to the Expiration Time or (ii) supply a adequately completed and duly executed Discover of Certain Shipping and all other essential files on or prior to the Expiration Time and tender their Notes prior to 5:00 p.m., New York Metropolis Time, on January 27, 2021 (the “Guaranteed Shipping and delivery Time”), and, in each circumstance, whose Notes are acknowledged for obtain pursuant to the Tender Offer you will be entitled to receive the complete thing to consider of $1,022.55 per $1,000 principal volume of Notes validly tendered and accepted for obtain (the “Tender Give Consideration”), plus any accrued and unpaid fascination from the most modern desire payment date on the Notes up to, but not such as, the settlement day, which is anticipated to be January 26, 2021 (the “Settlement Date”). Holders who validly tender their Notes prior to the Expiration Time will receive payment on the Settlement Date, and Holders who deliver a properly done and validly executed Recognize of Certain Shipping prior to the Expiration Date and validly tender their notes prior to the Guaranteed Supply Time will receive payment on the guaranteed shipping settlement date, which is predicted to be January 28, 2021, furnished that accrued curiosity will cease to accrue on the Settlement Day for all Notes recognized in the Tender Offer you, including those people tendered pursuant to a Discover of Certain Shipping. Notes tendered prior to the Expiration Time might be withdrawn at any time prior to the Expiration Time.
The Tender Present is matter to the fulfillment or waiver of a quantity of ailments that are established forth in the Give to Obtain, like, without the need of limitation, the Co-Issuers getting accessible money, together with net proceeds of at the very least $340 million from a concurrent debt funding (the “Financing Transaction”), on phrases and ailments suitable to the Co-Issuers sufficient to shell out the Tender Offer you Thought with regard to all remarkable Notes in the Tender Supply, and specified other customary disorders.
There can be no assurance that any of the ailments to the Tender Supply will be content.
If any Notes remain remarkable soon after the consummation of the Tender Give, the Co-Issuers expect (but are not obligated) to redeem this kind of Notes in accordance with the conditions and problems set forth in the related indenture governing the Notes.
The Co-Issuers have engaged Wells Fargo Securities, LLC as Seller Manager for the Tender Supply. Copies of the Give to Order and Detect of Certain Supply are readily available at https://www.gbsc-usa.com/drawbridge/ and may be attained from World Bondholder Services Company, the Tender Agent and Information Agent, by e-mail to speak to@gbsc-united states.com or by cellular phone at 212-430-3774 (Banks and Brokers) or 866-470-4500 (Toll-Cost-free). Remember to direct inquiries about the Tender Supply to Wells Fargo Securities, LLC by cell phone at (866) 309-6316 or (704) 410-4756 or by e-mail to firstname.lastname@example.org.
This announcement is for informational applications only and does not constitute an offer to invest in or a solicitation of an supply to promote the Notes, or a detect of redemption under the indenture governing the Notes. The Tender Supply is staying designed only by indicates of the Give to Buy. In individuals jurisdictions in which relevant securities, “blue sky” or other guidelines call for any tender give to be created by a certified broker or supplier, the Tender Supply will be deemed to be created on behalf of the Co-Issuers by the vendor manager or one or additional registered brokers or sellers accredited less than the legal guidelines of these types of jurisdiction. In addition, this press release is not an offer to promote or the solicitation to get any securities issued in connection with the Financing Transaction.
About the Co-Issuers
Drawbridge Particular Prospects Fund LP, a Delaware confined partnership organized in May perhaps 2002 (the “Fund”), is a non-public expenditure partnership targeted on building highly diversified investments in the two personal and community credit rating mainly during the United States and Western Europe, but also in Australia, Asia and in other places on an opportunistic foundation.
The Fund’s expense supervisor and general companion are affiliate marketers of Fortress Financial commitment Team LLC, which is a leading global expense management business with $49.9 billion in assets under administration as of September 30, 2020.
Drawbridge Special Alternatives Finance Corporation is a wholly-owned subsidiary of the Fund and was formed to provide as co-issuer of the Notes.
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