SJM Holdings (00880) Plans $500 Million Cash Tender for 2026 Maturity Senior Notes, Concurrently Launches New Note Issuance

Stock News01-05

SJM Holdings (00880) announced that its 2026 notes are listed on the Stock Exchange. As of the date of this announcement, $500 million in aggregate principal amount of the 2026 notes remains outstanding. The issuer of the 2026 notes is proposing to make a cash tender offer to purchase any and all validly tendered 2026 notes, at a purchase price of $1,000 per $1,000 principal amount, subject to the terms and conditions set forth in the tender offer memorandum. The 2026 notes issuer has today provided the tender offer memorandum to eligible holders, which details, among other things, the terms and conditions of the offer. The tender offer aims to acquire any and all of the outstanding aggregate principal amount of the 2026 notes as part of a partial refinancing of the existing debt of the company and its subsidiaries. Deutsche Bank AG, Singapore Branch is acting as the exclusive dealer manager, while Kroll Issuer Services Limited is serving as the information and tender agent for the offer. Concurrently, SJM International Limited, a wholly-owned subsidiary of the company and the new notes issuer, is commencing an offering of guaranteed senior notes. This offering is referred to as the "concurrent new money issuance." The concurrent new money issuance is not part of the tender offer and is being conducted pursuant to a separate offering memorandum. The tender offer is subject to certain conditions, including the successful completion of the concurrent new money issuance.

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As of the date of this announcement, $500 million in aggregate principal amount of the 2026 notes remains outstanding. The issuer of the 2026 notes is proposing to make a cash tender offer to purchase any and all validly tendered 2026 notes, at a purchase price of $1,000 per $1,000 principal amount, subject to the terms and conditions set forth in the tender offer memorandum. The 2026 notes issuer has today provided the tender offer memorandum to eligible holders, which details, among other things, the terms and conditions of the offer. The tender offer aims to acquire any and all of the outstanding aggregate principal amount of the 2026 notes as part of a partial refinancing of the existing debt of the company and its subsidiaries. Deutsche Bank AG, Singapore Branch is acting as the exclusive dealer manager, while Kroll Issuer Services Limited is serving as the information and tender agent for the offer. 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