Brunswick Rail to buy back Eurobond due 2017 at 51% of par value or at 38% with exchange for new issue
July 1, 2016
Leasing company Brunswick Rail is ready to discuss two buyback variants with holders of a $600m Eurobond maturing in November 2017.
The first option is repaying 51% of par value ($510 for every $1,000 of par value). The second option combines a cash payment worth 38% of par value and subordinated convertible notes (the new issue will give a right to obtain no more than 25% of the company's equity capital).
Company — Brunswick Rail Ltd
Full nameBrunswick Rail Ltd