Wednesday 31 October 2018 by FIIG Research Company research

Company Updates - Mackay Sugar & PMP

Mackay Sugar (MSL)
On 30th October 2018, Mackay Sugar Ltd announced that it had entered into a non-binding indicative recapitalisation proposal with Nordzucker AG from Germany.

Nordzucker is the second largest sugar manufacturer in Europe, with revenue of about EUR1.65bn and assets of EUR2.2bn.

Each holder should have received an email and new research report.

Here is the company’s press release.

Please call your local relationship manager for more information.

PMP
Yesterday PMP announced its intention to refinance the existing FIIG originated Notes through an issuance of AUD40m 8.25% secured subordinated Notes due November 2022.

In order to facilitate this, PMP is seeking consent to an early redemption of the Existing Notes.

Further to this, PMP is offering Existing Noteholders an Exchange – on a 1-for-1 basis – of the Existing Notes to the New Notes (Exchange Offer).

Noteholders will receive a premium of 1% over the par value of the Existing Notes, which will be redeemed at price of 101% of the outstanding balance of each Existing Note, together with accrued, but unpaid interest.

Each holder should have received an email detailing their options as well as a new research report.

ASX Announcement

Please call your local relationship manager for more information.

 

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