The following 10 practice tips are intended to help in assisting an issuer with a proposed debt tender offer for cash. Often, issuers of debt securities seek to address their liabilities through liability management transactions, including debt tender offers for cash. Given the current economic uncertainty and market volatility, companies with cash on hand may consider repurchasing their outstanding debt for cash. A cash tender offer consists of a public offer by the issuer to purchase all or a portion of the outstanding principal amount of the relevant debt securities from the holders at a specific price, and subject to conditions, set forth in the issuer’s offer to purchase.
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