Press Metal unit sets US$200m as maximum for senior notes purchase

Press Metal Labuan said the offer to accept the notes was up to a maximum aggregate principal amount of US$200mil . However, it would be subject to increase or decrease at its own discretion.

KUALA LUMPUR: Press Metal Aluminium Holdings Bhd's unit has set US$200mil (RM850mil) as a maximum in its offer to holders of its senior notes due 2022.

The aluminium smelter said on Tuesday Press Metal Labuan had proposed to the holders of the 4.8% senior notes to purchase their notes for cash in the tender offer which would be despatched to them.