Sammaan Capital Announces Early Results of Tender Offer for U.S. Bonds
Sammaan Capital Limited announced the results of its tender offer for its U.S. $450,000,000 7.5% Senior Secured Social Bonds due 2030. The results cover the early tender deadline, confirming the Company's acceptance of a specific amount of bonds for purchase.The Company announced the results regarding the previously announced offer to purchase its outstanding bonds, which are subject to the terms and conditions detailed in the Tender Offer Memorandum dated April 7, 2026.
Early Tender Activity and Adjustments
The Early Tender Deadline for the Tender Offer occurred at 5:00 P.M., Central European Time, on April 20, 2026.The total aggregate principal amount of the bonds validly tendered at or prior to the Early Tender Deadline exceeded the maximum purchase amount established in the offer. Consequently, a scaling factor of approximately 38.147% will be applied to the valid tenders of the bonds. Each tender reduced by this scaling factor will be rounded downwards to the nearest U.S. $1,000 in aggregate principal amount.
The initial maximum purchase amount for the bonds was set at up to U.S. $45,000,000.
| Detail | Value |
|---|---|
| Bonds Subject To Offer | U.S.$450,000,000 7.5% Senior Secured Social Bonds due 2030 |
| Maximum Purchase Amount | Up to U.S.$45,000,000 |
| Early Tender Deadline | April 20, 2026 (5:00 P.M., CET) |
| Scaling Factor Applied | Approximately 38.147% |
Acceptance and Payment Details
Sammaan Capital Limited announced that it has elected to accept for purchase an aggregate principal amount of U.S. $45,000,000 of the bonds validly tendered and not validly revoked at or prior to the Early Tender Deadline.The consideration offered for those bonds tendered at or prior to the Early Tender Deadline is U.S. $1,000 per U.S. $1,000 principal amount.
The settlement date for the bonds accepted for purchase is expected to be April 24, 2026. In addition to the Early Tender Offer Consideration, bondholders will also receive accrued and unpaid interest and any other additional amounts in cash for the bonds purchased in the Tender Offer.
Future Tender Offer Period
The Expiration Time of the Tender Offer remains at or before 5:00 P.M., Central European Time, on May 5, 2026.The Company noted that since the aggregate principal amount of the bonds validly tendered exceeded the Maximum Purchase Amount during the early period, the Company will not accept any bonds validly tendered by bondholders after the Early Tender Deadline. The Company reserved the right to purchase bonds in excess of the Maximum Purchase Amount, subject to applicable law.
The Company stated it will announce the principal amount of bonds accepted for purchase and the aggregate principal amount that will remain outstanding following the completion of the Tender Offer as soon as reasonably practicable following the Expiration Time.
SAMMAANCAP Stock Price Movement
Sammaan Capital Limited shares today slipped by 2.14% to settle at ₹148.84. Trading occurred on a substantial volume of 21.84 million shares, with the stock falling between a low of ₹147.9 and a high of ₹153.9.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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