by Amruth Sundarkumar | Dec 8, 2022 | High Yield Bonds, Hong Kong
Li & Fung announced the early results for the buyback of its $600mn 4.5% 2025s and increased the purchase price for tenders submitted after the early deadline. It accepted to buy back $76.165mn in principal of the 2025s before the early deadline, paying $875 per...
by Amruth Sundarkumar | Nov 22, 2022 | High Yield Bonds, Hong Kong
Li & Fung launched a tender offer to buy back up to $250mn of its $600m 4.5% 2025s in cash. It is offering $875 per $1,000 in principal for bondholders who tender before the early deadline date of December 6 and their notes will be accepted first. Holders...
by Amruth Sundarkumar | Nov 14, 2022 | High Yield Bonds, Hong Kong
Li & Fung announced the early results of its tender offer to buy back all of its $500mn 4.375% 2024s. The Hong Kong based developer said that it received $377.7mn before the early deadline date of November 9. The final deadline is on November 28. Also, its consent...
by Amruth Sundarkumar | Oct 28, 2022 | High Yield Bonds, Hong Kong
Li & Fung launched a tender offer for its $500mn 4.375% 2024s, offering to purchase for cash any and all of the notes. The consent solicitation was for certain modification of the terms and conditions of the notes to insert a new condition entitling the company...
by Amruth Sundarkumar | Sep 5, 2022 | China, Corporates
Hong Kong-based supply chain and management company Li & Fung was downgraded to BB+ from BBB- with a stable outlook by S&P due to weakening business strength post the sale of its logistics unit in December 2021. The rating agency expects that the asset sale...
