buyback

An attractive exit price of 85 cents on the dollar increases the chances that the property developer will succeed in buying back most of its $400 million high-yield bond.

S&P says the material tender discount of up to 30% versus face value would prompt it to put a default rating on the bonds if the proposed transaction is completed.

The Taiwan memory-chip maker says 80.34% of the CBs were tendered or will be held to maturity, allowing it to move on to the next phase of its restructuring.

The fixed-line telecom operator offers to pay up to 75 cents on the dollar for $89.4 million worth of outstanding 2015 bonds.

In the hope of achieving the minimum acceptance rate of 79%, the Taiwanese chipmaker extends the early premium deadline until the end of the tender offer set for March 21.

The cash-strapped DRAM maker says more than 50% of its CB holders have indicated support for the offer, but some need more time to complete the tender process.

The Chinese paper manufacturer extends its early tender deadline to tempt more investors to surrender their bonds at the higher price, while in Taiwan, ProMOS calls on CB holders to seriously consider its ongoing tender.

Jubilant Organosys repurchases $48.3 million worth of convertible bonds and becomes the first Indian company to buy back CBs through a tender offer.

The exchange offer is the latest in a series of moves by Olam to clear its outstanding debt.