Buyback20 Jul 2026, 03:43 pm
Sammaan Capital Approves Tender Offer for US$18M Bonds
AI Summary
Sammaan Capital Limited's Securities Issuance and Investment Committee has approved a tender offer to purchase up to US$18,000,000 of its outstanding U.S.$350,000,000 9.70% Senior Secured Social Bonds due 2027. This initiative is part of the company's ongoing liability management program aimed at rebalancing obligations, enhancing maturity alignment, and reducing funding costs. The company intends to continue evaluating buybacks of its USD-denominated bonds to optimize its overall cost of funds, supported by improving credit ratings. The tender offer memorandum and dealer manager agreement have also been approved.
Key Highlights
- Company approves tender offer to buy back up to US$18M of its 9.70% Senior Secured Social Bonds due 2027.
- Tender offer is part of a liability management program to optimize funding costs.
- Company aims to rebalance obligations and enhance maturity alignment.
- Strategy supported by improving credit ratings and favorable funding terms.
- Dealer Manager Agreement and tender offer memorandum approved.
Price Impact
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