NEW YORK–(Enterprise WIRE)–Drawbridge Unique Possibilities Fund LP and Drawbridge Unique Alternatives Finance Company (alongside one another, the “Co-Issuers”) right now announced that they have commenced a dollars tender supply (the “Tender Offer”) for any and all of their remarkable 5.00% Senior Notes owing 2021 (the “Notes”), upon the terms and situations explained in the Co-Issuers’ Supply to Invest in, dated January 19, 2021 (as amended or supplemented, the “Offer to Purchase”), and its accompanying notice of guaranteed delivery (the “Notice of Guaranteed Delivery”).
The Tender Present will expire at 5:00 p.m., New York Metropolis time, on January 25, 2021, until extended by the Co-Issuers in their sole discretion (such date and time, as the exact same may be prolonged, the “Expiration Time”). Holders who (i) validly tender their Notes prior to the Expiration Time or (ii) deliver a properly concluded and duly executed Recognize of Certain Shipping and delivery and all other demanded paperwork 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 just about every case, whose Notes are approved for acquire pursuant to the Tender Give will be entitled to get the complete thought of $1,022.55 for every $1,000 principal sum of Notes validly tendered and approved for order (the “Tender Present Consideration”), additionally any accrued and unpaid curiosity from the most current interest payment day on the Notes up to, but not which include, the settlement day, which is predicted to be January 26, 2021 (the “Settlement Date”). Holders who validly tender their Notes prior to the Expiration Time will acquire payment on the Settlement Date, and Holders who deliver a adequately done and validly executed Observe of Certain Supply prior to the Expiration Date and validly tender their notes prior to the Confirmed Shipping Time will get payment on the guaranteed supply settlement date, which is anticipated to be January 28, 2021, supplied that accrued interest will cease to accrue on the Settlement Date for all Notes recognized in the Tender Give, which include those tendered pursuant to a Recognize of Confirmed Delivery. Notes tendered prior to the Expiration Time could be withdrawn at any time prior to the Expiration Time.
The Tender Give is subject matter to the satisfaction or waiver of a quantity of circumstances that are set forth in the Offer you to Purchase, which include, with no limitation, the Co-Issuers obtaining offered funds, including internet proceeds of at minimum $340 million from a concurrent debt financing (the “Financing Transaction”), on conditions and situations satisfactory to the Co-Issuers ample to pay back the Tender Give Consideration with respect to all exceptional Notes in the Tender Offer you, and certain other customary circumstances.
There can be no assurance that any of the ailments to the Tender Offer you will be pleased.
If any Notes stay exceptional after the consummation of the Tender Present, the Co-Issuers hope (but are not obligated) to redeem these kinds of Notes in accordance with the conditions and problems set forth in the relevant indenture governing the Notes.
The Co-Issuers have engaged Wells Fargo Securities, LLC as Supplier Supervisor for the Tender Give. Copies of the Give to Purchase and See of Certain Shipping are accessible at https://www.gbsc-united states.com/drawbridge/ and may possibly be obtained from World wide Bondholder Products and services Company, the Tender Agent and Facts Agent, by e-mail to make contact [email protected] states.com or by cell phone at 212-430-3774 (Banking institutions and Brokers) or 866-470-4500 (Toll-No cost). You should immediate questions relating to the Tender Offer you to Wells Fargo Securities, LLC by cell phone at (866) 309-6316 or (704) 410-4756 or by e-mail to [email protected]
This announcement is for informational reasons only and does not constitute an supply to purchase or a solicitation of an provide to offer the Notes, or a discover of redemption underneath the indenture governing the Notes. The Tender Provide is getting manufactured solely by implies of the Offer you to Obtain. In individuals jurisdictions where relevant securities, “blue sky” or other rules have to have any tender offer you to be manufactured by a licensed broker or dealer, the Tender Offer will be considered to be built on behalf of the Co-Issuers by the vendor supervisor or a single or a lot more registered brokers or sellers licensed under the legal guidelines of such jurisdiction. In addition, this press release is not an supply to market or the solicitation to invest in any securities issued in connection with the Financing Transaction.
About the Co-Issuers
Drawbridge Distinctive Prospects Fund LP, a Delaware limited partnership structured in Might 2002 (the “Fund”), is a non-public expense partnership centered on creating extremely diversified investments in each personal and general public credit score mostly all over the United States and Western Europe, but also in Australia, Asia and elsewhere on an opportunistic foundation.
The Fund’s expense manager and standard husband or wife are affiliates of Fortress Expense Team LLC, which is a major international financial commitment administration business with $49.9 billion in assets less than management as of September 30, 2020.
Drawbridge Exclusive Alternatives Finance Company is a wholly-owned subsidiary of the Fund and was shaped to provide as co-issuer of the Notes.
This push launch may well incorporate estimates and “forward-seeking statements” as described beneath U.S. federal securities legislation. All statements other than statements of historic truth provided in this push launch are forward-looking statements. When utilised in this press launch, phrases these kinds of as “anticipate,” “believe,” “estimate,” “expect,” “intend” and equivalent expressions, as they relate to us or our management workforce, discover forward-on the lookout statements. These types of ahead-on the lookout statements are dependent on the beliefs of administration, as effectively as assumptions built by, and details currently out there to, our management. Actual effects could differ materially from all those contemplated by the ahead-wanting statements. All subsequent composed or oral forward-hunting statements attributable to us or people performing on our behalf are qualified in their entirety by this paragraph. Forward-seeking statements are subject to quite a few circumstances, many of which are further than our manage. We undertake no obligation to update these statements for revisions or changes following the day of this launch, apart from as required by legislation.