RIYADH: ACWA Power Co. said its fully owned subsidiary, ACWA Power Management and Investments One Ltd., offered to purchase cash bonds up to $400 million on the Irish Stock Exchange. Â
ACWA Power disclosed in a bourse filing that its senior secured bonds issued in 2017 and due in 2039 had a pre-amortization aggregate principal amount of $814 million and an aggregate basic value of $812.37 million before amortization or equivalent to $814 million after amortization. Â
The filing said that by accepting the bonds for purchase pursuant to the tender offer, APMIOne would reduce its debt service obligations and expenditures. Â
To fund the offer, ACWA Power, APMIOne, and certain subsidiaries will use their existing cash resources.Â
