ACWA Power subsidiary buys $400.7 mln bonds

Logo of ACWA Power

ACWA Power’s wholly owned subsidiary, ACWA Power Management and Investments One Limited (APMIOne), purchased on Nov. 25 ACWA39 bonds at $400.7 million before amortization at the early settlement date.

No additional bonds were validly tendered after the early tender deadline and prior to or at the expiration date, and as a result, there will not be a final settlement date, the company said in a statement to Tadawul.

The pre-amortization aggregate principal amount of bonds that will remain outstanding after the expiration date is $413.3 million.

APMIOne accepted the purchase of $400.7 million of the outstanding $814 million pre-amortization aggregate principal amount.

In November, APMIOne announced on the Irish Stock Exchange (Euronext Dublin) an offer to purchase cash bonds up to $400 million.

Later the company raised the maximum bond purchase value before amortization from $400 million to $428 million.