Fund Accepts All RMBS Tendered and Committed to Offer for RMBS Securities Insured by Syncora Guarantee Inc.
NEW YORK, July 15 /PRNewswire-FirstCall/ -- The BCP Voyager Master Funds SPC, Ltd., acting on behalf of and for the account of the Distressed Opportunities Master Segregated Portfolio (the "Fund"), today announced in connection with the expiration of the Fund's offer for 55 classes of residential mortgage backed securities ("RMBS") insured by Syncora Guarantee Inc. ("Syncora Guarantee"), the Fund will accept all RMBS tendered into and otherwise committed to the offer. The offer expired on July 15, 2009 at 1:00 p.m. All conditions to the offer have been met (including the transactions contemplated by the master transaction agreement entered into between Syncora Guarantee and certain counterparties to its credit default swaps and financial guarantee insurance policies) or waived. Settlement of the offer will occur promptly and is expected to occur no later than five business days from today.
The offer by the Fund and any transactions with Syncora Guarantee are being conducted only with qualified institutional buyers and are exempt from registration under Section 4(2) of the Securities Act of 1933, as amended. Any securities that may be issued pursuant to such transactions have not been and, at the time of the settlement of the transaction, will not be registered under the Securities Act or any state securities laws. The securities may not be offered or sold in the United States absent registration under, or an applicable exemption from, the registration requirements of the Securities Act and applicable state securities laws.
This press release does not constitute an offer to purchase any securities or a solicitation of an offer to sell any securities. The offers are being made only pursuant to an offer to purchase and letter of transmittal or other appropriate documentation and only to such persons and in such jurisdictions as is permitted under applicable law.
What happen here??? Good news but we still at 0.30$$$???
Please somebody show me the money!!!
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