Seazen Holdings launched a tender to buy its $200mn 7.5% bonds due March 20, 2022 at par. The bonds, issued by its overseas subsidiary New Metro Global and guaranteed by the parent are currently trading at less than par, around 97.13 cents on the dollar. The deadline for the tender is February 16 with settlement on or about February 18. Seazen said the cash buyback will be funded by internal resources.

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