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Bond Market News
Road King Accepts Tendered Notes, Holders Approve Maturity Extension
July 4, 2024
Road King’s dollar bondholders have validly tendered the company’s 6.7% 2024s, 5.9% 2025s, 6% 2025s, 5.2% 2026s and 5.125% 2026s, following the company’s tender offer. Following this, all the above notes validly tendered have been accepted. Road King had offered to purchase the five dollar bonds at $257.50-515 per $1,000 in principal, subject to a maximum consideration of $60mn. As part of its consent solicitation, it proposed that its other debt be extended by 3.5 years from their original maturity dates.
Road King’s dollar bonds were up by nearly 3 points across the curve.
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