EACCESS LTD. ANNOUNCES THE SETTLEMENT OF ITS
CHANGE OF CONTROL OFFER FOR ITS $420 MILLION 8.250%
SENIOR NOTES DUE 2018 AND €200 MILLION 8.375%
SENIOR NOTES DUE 2018
March 6, 2013
eAccess Ltd. (“eAccess”) announced today the settlement of its change of control offer to purchase for cash (the “Change of Control Offer”) any and all of its outstanding $420 million 8.250% Senior Notes due 2018 (the “Dollar Notes”) (CUSIP NO Reg S: J12548 AD5 and CUSIP NO 144A: 26938N AA9) and €200 million 8.375% Senior Notes due 2018 (Common Code Reg S: 060595828 and Common Code 144A: 060595836) (the “Euro Notes”) (collectively, the “Notes”) that were validly tendered and not withdrawn before 5:00 p.m., New York City time, on Tuesday, February 26, 2013 in the case of the Dollar Notes and 5:00 p.m., London time, on Tuesday, February 26, 2013 in the case of the Euro Notes (the “Expiration Date”). The Notes are listed on the Singapore Exchange Securities Trading Limited.
On March 5, 2013, holders of Notes who tendered their Notes on or prior to the Expiration Date received in cash an amount equal to 101% of the principal amount of the Notes validly tendered plus accrued and unpaid interest up to and including the date of purchase (“Change of Control Purchase Price”).
As of the Expiration Date, $380,000 in aggregate principal amount of Dollar Notes were validly tendered pursuant to the Change of Control Offer, representing less than 1% of the outstanding aggregate principal amount of the Dollar Notes as of the date hereof. No Euro Notes were tendered. All Notes validly tendered and not withdrawn with respect to the Change of Control Offer were accepted for payment.
The Change of Control Purchase Price was $397,210.20, the sum of $383,800 representing 101% of the principal amount of the Notes validly tendered and $13,410.20 representing accrued and unpaid interest up to and including the date of purchase. Effective upon payment of the Change of Control Purchase Price, all tendered Notes accepted for purchase were cancelled and all obligations of eAccess under such tendered Notes were extinguished. The principal amount of the Dollar Notes that remain outstanding following the Offer is $419,620,000. The principal amount of the Euro Notes that remain outstanding following the Offer is €200,000,000.
The Bank of New York Mellon acted as the tender agent in connection with the Offer.
This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to sell securities.
ABOUT EACCESS LTD.
eAccess, headquartered and incorporated in Japan, is a leading provider of mobile broadband services and one of the largest wholesale providers of ADSL services in Japan based on the number of subscribers.
- The information is true and accurate at the time of publication.
Price, specification, contact and other information of products and service may be subjected to change. The information contains certain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements.