Sammaan Capital Limited has informed the Exchange regarding 'Further to our intimations dated April 1, 2026, April 7, 2026 and April 21, 2026, please find enclosed herewith the press release regarding tender as at the Expiration Time with respect to, and the completion of, its previously announced tender offer made by us, upon the terms and subject to the conditions set forth in the Tender Offer Memorandum, in an aggregate principal amount of U.S.$45,000,000 of the outstanding U.S.$450,000,000 7.5% Senior Secured Social Bonds due 2030 issued by the Company (the Bonds and such offer the Tender Offer ).Capitalised or other terms used but not defined herein shall, unless the context otherwise requires, have the meanings as set out in the Tender Offer Memorandum.'.
SAMMAANCAP · price
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Sammaan Capital Limited has completed a cash tender offer for its U.S.$450,000,000 7.5% Senior Secured Social Bonds due 2030. The company purchased U.S.$45,000,000 (10%) of the outstanding bonds at U.S.$1,000 per U.S.$1,000 principal amount, paying a total of approximately U.S.$45.07 million including accrued interest. The tender offer expired on May 5, 2026, with the early acceptance deadline having passed on April 21, 2026. Bonds tendered after the early deadline but before expiration will be returned to holders without purchase. Following completion, U.S.$405,000,000 in bonds remain outstanding.
The company has successfully reduced its dollar-denominated debt by 10%, which could be positive for bondholders as it lowers overall credit risk. However, it also indicates the company had excess liquidity to repurchase bonds at par value.