Rexlot says Keen Start bond tender to proceed

Rexlot Holdings says its shareholder Keen Start has received tenders for 75.01 percent of its 2016 bonds and 75.05 percent of its 2019 bonds under a tender offer.

Keen Start has offered to buy all or part of the two bond series provided that it received confirmation from holders of more than 75 percent of the securities. However, the settlement timetable for the offer has been extended to the end of the month to allow some bondholders who had exercised put options back to the company to participate, Rexlot said in a Hong Kong Stock Exchange filing.

“If necessary, the Company will consent to the withdrawal by the bondholders who accept such offer of those put options and facilitate in the unblocking of such bonds from trading on the relevant clearing systems,” the lottery company said.

As of the date of this announcement, the aggregate outstanding principal amount of the Put Bonds was HK$563,214,096.19, the aggregate outstanding principal amount of the Put Bonds subject to redemption under the 3rd Anniversary Put Option was HK$87,643,974.17 and the aggregate outstanding principal amount of the 2016 Bonds was HK$1,451,059.00.