Restructuring exchange offer definition
Restructuring exchange offer means an offer inviting Holders of more than one Series of debt securities to exchange such debt securities for new debt securities (other than an invitation to exchange where (i) the debt securities to be exchanged are trading above 90% of their par value (or accreted value in the case of debt securities initially issued at a discount) on an internationally recognized financial information platform (such as Bloomberg) at 4:00 p.m., New York time, as reported on the Business Day immediately prior to the date on which the invitation is launched, and (ii) the sum of the net present values of the new debt securities and any other consideration delivered in the exchange is not less than 90% of the sum of the net present values of the debt securities and any other consideration to be exchanged, in each case, discounted at the same rate of return).
Restructuring exchange offer means an offer inviting Holders of more than one Series of Debt Securities to exchange such Debt Securities for new Debt Securities (other than an invitation to exchange where (i) the Debt Securities to be exchanged are trading above 90% of their par value (or accreted value in the case of Debt Securities initially issued at a discount) on an internationally recognized financial information platform (such as Bloomberg) at 4:00 p.m., New York time, as reported on the Business Day immediately prior to the date on which the offer is launched, and (ii) the sum of the net present values of the new Debt Securities and any other consideration delivered in the exchange is not less than 90% of the sum of the net present values of the Debt Securities and any other consideration to be exchanged, in each case, discounted at the same rate of return).”