Sammaan Capital Limited Announces Tender Offer Results for Social Bonds; Maximum Purchase Amount Met
Sammaan Capital Limited has announced the results of the Early Tender Deadline related to its U.S.$350,000,000 9.70% Senior Secured Social Bonds due 2027. The Company confirmed that the aggregate principal amount of bonds validly tendered at or prior to the Early Tender Deadline had exceeded the Maximum Purchase Amount established for the offer.The bond issuance carries a rate of 9.70%. As of the announcement, U.S.$324,000,000 of these bonds remain outstanding. The maximum principal amount the Company intended to purchase through this tender offer was up to U.S.$18,000,000.
Due to the high volume of tenders received prior to the Early Tender Deadline (which occurred on July 31, 2026), a Scaling Factor of approximately 15.0997% will be applied to valid bonds tendered early. The company clarified that any individual tender reduced through scaling must be rounded downwards to the nearest U.S.$1,000 in aggregate principal amount. Furthermore, tenders that resulted in a purchase amount less than U.S.$200,000 were elected by the Company for rejection.
Tender Offer Summary Details:
| Metric | Value |
|---|---|
| Bond Issue Size (Original) | U.S.$350,000,000 |
| Bonds Outstanding (Pre-Offer) | U.S.$324,000,000 |
| Maximum Purchase Amount | Up to U.S.$18,000,000 |
| Early Tender Deadline Date | July 31, 2026 |
Company Accepts Maximum Offer and Payment Details
The Company has elected to accept for purchase the maximum amount of U.S.$18,000,000 in bonds that were validly tendered before the Early Tender Deadline. The settlement date for these accepted bonds is expected on August 6, 2026 (the Early Payment Date).Holders who successfully tendered and were accepted will receive the Early Tender Offer Consideration of U.S.$1,035 per U.S.$1,000 principal amount, along with any accrued or unpaid interest in cash up to the Early Payment Date. The Company confirmed that all bonds validly tendered and accepted for purchase will be cancelled following the transaction.
The Expiration Time for the Tender Offer is set at 5:00 P.M., Central European Time, on August 17, 2026. Given that the maximum purchase amount was exceeded by the early tenders, Sammaan Capital Limited stated it will not accept any bonds tendered after the Early Tender Deadline.
The Company plans to announce whether the conditions of the Tender Offer have been satisfied or waived, and provide details on the principal amount of bonds accepted for purchase as well as the remaining outstanding bonds, following completion of the Tender Offer.
SAMMAANCAP Stock Price Movement
Shares of Sammaan Capital Limited today slipped by 0.88% to settle at ₹161.08, marking a slight decline on the close. The stock saw traded volume stand at approximately 6.9 million shares during the session.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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