Cathay International Water Limited Announces the Completion of Its Tender Offer for Up to $40 Million of Its Senior Notes.Business Editors HONG KONG--(BUSINESS WIRE)--Feb. 6, 2003 Cathay International Water Limited ("CIWL CIWL Compagnie Internationale des Wagons-Lits ") (formerly Cathay International Limited) announced today the completion of its cash tender offer, pursuant to the Offer to Purchase, dated December 4, 2002, as amended by CIWL's announcements on January 6, 2003 and January 22, 2003 (the "Offer"), to purchase up to $40 million in aggregate principal amount of its outstanding 13% Senior Notes Due 2008 (the "Notes") for a cash price of $1,000 per $1,000 principal amount, plus accrued but unpaid interest, including Special Interest (as defined below). Since January 10, 1999, the Notes have borne interest at the rate of 13.5% per annum Per annum Yearly. due to an 0.5% per annum increase in the interest rate pursuant to the terms of the Notes (such 0.5% per annum increase in the interest rate, the "Special Interest"). The Offer expired at 5:00 p.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on Wednesday, February 5, 2003. As of such expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. , $16,988,000 in aggregate principal amount of Notes was validly tendered and not withdrawn pursuant to the Offer. After having determined that the conditions to the consummation CONSUMMATION. The completion of a thing; as the consummation of marriage; (q.v.) the consummation of a contract, and the like. 2. A contract is said to be consummated, when everything to be done in relation to it, has been accomplished. of the Offer were met, CIWL accepted for purchase all Notes tendered pursuant to the Offer. About Cathay International Water Limited Founded in 1991, CIWL is developing a portfolio of infrastructure projects in some of the fastest-growing regions in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China (the "PRC") and is seeking to become a leading water company in the PRC. CIWL intends to focus on water treatment facilities which it believes will be key areas of development in the PRC. CIWL is incorporated as an exempted company with limited liability under the laws of Bermuda. Since CIWL's founding, the Singapore Technologies Group, the Santander Group, Nomura/Jafco (since April 1996), Union Bank of Switzerland and certain funds managed by Union Bank of Switzerland (since May 1997) and J.P. Morgan Securities Asia (since May 1998) have become strategic investors in CIWL. CIWL's principal executive offices are located in Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. . Questions about CIWL may be directed to CIWL through CIWL's affiliate, Cathay International Holdings Limited of UK, at +44-207-584-6538. |
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