On 17 March 2022, GCL New Energy Holdings Limited (451.HK
) successfully completed its Offer to Purchase for cash of its outstanding 10% Senior Notes due 2024. Admiralty Harbour acted as the sole Dealer Manager for the transaction.
The transaction received active participation from the holders. In light of the positive response to the transaction, the Company has determined to accept an amount outstanding at face value of US$53,398,267, fulfilling its commitment in the indenture.
This transaction is another success in Admiralty Harbour and the Company’s long-term partnership. Following the restructuring in June 2021 and the consent solicitation in January 2022, the Company seized the opportunity to manage its overall funding level and reduce its gross debt, while maintaining a prudent approach to liquidity
Congratulations to GCL New Energy!