FirstPac improves debt profile with tender, new issue

Golden Dollar
By Addison Gong
24 May 2018

First Pacific Co is using a new $175m bond, as well as a bank loan, to help fund a tender offer, part of a liability management exercise.

Before announcing the new issue portion of the bond on Wednesday, First Pacific, an investment management and holding company with businesses across Asia Pacific, accepted tenders for a combined $220m for its two outstanding bonds — a 6% 2019 and a 6.375% 2020.

“The goal was really to ...

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