Sammaan Capital Limited has filed a regulatory disclosure under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, to announce the successful closure of its tender offer for its outstanding U.S. dollar-denominated bonds.

Nature of the Event

The disclosure intimates the successful closure of the company's previously announced tender offer to purchase for cash a portion of its outstanding U.S. dollar bonds.

Key Quantitative Figures

  • Total Bond Issuance: U.S. $350,000,000 9.70% Senior Secured Social Bonds due 2027
  • Outstanding Amount: U.S. $324,000,000
  • Maximum Purchase Amount (Tender Offer Size): U.S. $18,000,000
  • Early Tender Offer Consideration: U.S. $1,035 per U.S. $1,000 principal amount of Bonds
  • Proration Scaling Factor: Approximately 15.0997%
  • Minimum Denomination: Tenders resulting in a purchase of less than U.S. $200,000 were rejected in their entirety.

Dates of Action

  • Early Tender Deadline: 5:00 P.M., Central European Time, on July 31, 2026
  • Early Acceptance Date: August 3, 2026 (the date of this announcement)
  • Expected Early Payment Date (Settlement): August 6, 2026
  • Expiration Time: 5:00 P.M., Central European Time, on August 17, 2026 (for any remaining offer, though the company states it will not accept further tenders)

Parties Involved

  • Issuer: Sammaan Capital Limited
  • Information and Tender Agent: D.F. King, a business name of MUFG Corporate Markets IR Pty Ltd
  • Dealer Manager: Deutsche Bank AG, Singapore Branch
  • Regulators CC'd: India International Exchange (IFSC) Limited (India INX) and NSE IFSC Limited (NSE IX)

Outcome of the Tender Offer

According to the Information and Tender Agent, the aggregate principal amount of Bonds validly tendered by the Early Tender Deadline exceeded the Maximum Purchase Amount of U.S. $18,000,000. Consequently, the company has accepted for purchase exactly U.S. $18,000,000 in aggregate principal amount of the Bonds tendered. A scaling factor was applied, meaning each tender was reduced pro-rata by approximately 15.0997%.

Financial Impact

Holders whose Bonds were accepted will receive the Early Tender Offer Consideration of U.S. $1,035 per U.S. $1,000 principal amount. In addition to this consideration, the company will also pay accrued and unpaid interest from (and including) the last interest payment date to (but excluding) the Early Payment Date (August 6, 2026). The company will cancel all Bonds purchased. The Bonds that were not tendered or were not accepted for purchase will remain outstanding.

Stated Rationale

The disclosure is for informational and compliance purposes, providing the results of the tender offer to the stock exchanges and bondholders.

Forward-Looking Statements

The document includes a standard cautionary note stating that it contains forward-looking statements subject to risks and uncertainties, and the company undertakes no obligation to update them.