Residential Capital LLC, Minneapolis, has announced the commencement of a cash tender offer for up to $750 million in aggregate principal amount of four issues of its debt securities.ResCap said the total consideration for each $1,000 in principal amount of notes accepted for purchase will be as follows (and in the following order of acceptance priority): $830 for floating-rate notes due June 9, 2008; $760 for floating-rate notes due Nov. 21, 2008; $760 for 6.125% notes due Nov. 21, 2008; and $500 for subordinated floating-rate notes due April 17, 2009. The tender offer will expire at midnight Eastern time on Dec. 19. ResCap can be found on the Web at http://www.rescapholdings.com.
Processing Content
