ND PAPER (ASX: 02689) has announced the launch of a tender offer to repurchase, for cash, any and all of its outstanding $400 million 14.00% priority perpetual capital securities.
The company stated that the offer is intended to further improve its profitability and optimize its capital structure.
Any securities accepted for repurchase by the company under the offer will be cancelled and retired immediately upon delivery to the company.
For the execution of this offer, the company has appointed Citigroup Global Markets Limited as the dealer manager and D.F. King, the business name of MUFG Corporate Markets IR Pty Ltd, as the information and tender agent.