Exela subsidiaries start tender offer to exchange senior notes

• Exela Technologies (NASDAQ:XELA) said some of its subsidiaries started an offer to exchange all of their outstanding 11.5% First-Priority Senior Secured Notes due 2026 (old notes) issued by Exela Intermediate and Exela Finance.
• The notes will be exchanged into new 11.5% First-Priority Senior Secured Notes due 2026 ( new notes) issued by the same issuers.
• The company noted that for each $1,000 principal amount of old notes, validly tendered by June 22, holders will be eligible to receive $800 principal amount of new notes. After June 22, those who tender the old notes will only be eligible to receive $750 principal amount of new notes.

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