Oxley Holdings has announced that its wholly-owned subsidiary, Oxley MTN has invited holders of its outstanding $150 million 5.7% notes due in 2022 to sell a portion of their notes for cash, through an invitation memorandum dated September 8.

In addition, Oxley MTN also intends to re-open the issue of the existing $70 million 6.9% notes due in 2024 and issue new Singdollar-denominated fixed rate notes which will be consolidated under the existing series.

Oxley MTN states it intends to use "some" of the net proceeds of the $70 million issuance to fund the purchase of the outstanding notes under the $150 million issuance. The remainder will be used for other general corporate purposes.


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