Tender Offer - Federated Hermes Project & Trade Finance Tender Fund
Form Type: SC TO-I
Filing Date: 2025-05-23
Corporate Action: Tender-offer
Type: New
Accession Number: 000162363225000595
Filing Summary: On May 23, 2025, the Federated Hermes Project and Trade Finance Tender Fund announced a tender offer to repurchase common shares of beneficial interest from its shareholders. The Offer is limited to repurchasing an amount of up to $45,321,469.34, which constitutes 5% of the Fund's net assets as of May 9, 2025. The Offer commenced on May 23, 2025, with an expiration deadline set for June 24, 2025. Shareholders must notify the Fund by 3:00 p.m. Eastern Time on the Notice Date if they wish to tender their shares. The Repurchase Valuation Date is also set for June 24, 2025, aligning with the expiration date. The net asset value of the shares will be calculated as of the Repurchase Valuation Date, and payments for repurchased shares will be made within five business days after the expiration date. The document outlines all necessary procedures for the tender process, including rights to withdraw tendered shares and the potential financial implications for existing shareholders. Additionally, it states the expectation that the Fund may use cash on hand, proceeds from securities sales, or borrowings to fulfill the repurchase obligations. The offer aims to provide liquidity to the shareholders while indicating potential changes in expense ratios for those remaining shares in the Fund.
Additional details:
Repurchase Amount: 45321469.34
Net Asset Value: 906429386.71
Net Asset Value Per Share: 9.98
Notice Date: 2025-06-24
Expiration Date: 2025-06-24
Acceptance Date: 2025-06-24
Repurchase Valuation Date: 2025-06-24
Form Type: SC TO-I/A
Filing Date: 2025-05-23
Corporate Action: Tender-offer
Type: Update
Accession Number: 000162363225000599
Filing Summary: This document is the Final Amendment to the Issuer Tender Offer Statement originally filed on February 21, 2025, by the Federated Hermes Project and Trade Finance Tender Fund. The Fund aimed to repurchase common shares of beneficial interest from shareholders for an aggregate amount of up to $44,573,589.23. The final amendment reports that no shares were tendered for repurchase, despite the offer being made at a net asset value of $10.16 per share as of March 21, 2025. The document serves to officially conclude the tender offer process with the SEC.
Additional details:
Tender Offer Price: 10.16
Total Offered Amount: 44573589.23
Shares Tendered: 0
Form Type: NPORT-P
Filing Date: 2025-02-24
Corporate Action: Tender-offer
Type: New
Accession Number: 000114554925008361
Filing Summary: On February 24, 2025, Federated Hermes Project & Trade Finance Tender Fund filed an NPORT-P form reporting their financials. The fund's holdings include various term loans and other financial instruments, emphasizing transactions in multiple currencies, specifically USD and EUR. Key transactions include a loan facility with the Government of The Republic of Kenya, and a syndicated term loan with multiple corporations across different countries. The report highlights the fund's purchase and sale activities, notably converting currencies and engaging in various financial instruments to optimize returns and manage exposure. The current net asset value stands at approximately 884.26 million USD, evidencing the fund's substantial portfolio management and investment strategy. Furthermore, the fund shows significant engagement in international financial markets and strategic asset allocation, showcasing diverse investment opportunities across geographies.
Additional details:
Tender Offer Price: 1.0
Currency Traded: USD/EUR
Total Assets: 884259127.69
Total Liabilities: 394263.26
Net Asset Value: 883864864.43
Holding Period End Date: 2025-03-31
Previous Report Date: 2024-12-31
Form Type: SC TO-I
Filing Date: 2025-02-21
Corporate Action: Tender-offer
Type: New
Accession Number: 000162363225000245
Filing Summary: On February 21, 2025, Federated Hermes Project and Trade Finance Tender Fund commenced a tender offer to repurchase common shares of beneficial interest for an amount up to $44,573,589.23, equating to approximately 5% of the fund's net assets, as calculated on February 7, 2025. The offer allows shareholders to tender their shares by notifying the fund by 3:00 p.m. Eastern Time on the Notice Date (March 21, 2025). Shareholders can also withdraw their tender requests until the Expiration Date, also set for March 21, 2025. The repurchase price will be based on the net asset value per share at the time of acceptance of the tender. The fund has reserved the right to extend the offer's period, cancel, amend, or postpone the acceptance of shares before the Expiration Date. As of February 7, 2025, the total net asset value of the fund was reported at $891,471,784.56 with a net asset value per share of $10.09. Fund assets may be used to finance the repurchase, including cash on hand and proceeds from sale of portfolio securities. Shareholders not participating in the tender offer may experience increased expense ratios due to the decrease in net assets of the fund. The fund is registered under the Investment Company Act of 1940, indicating its compliance and management structure. The document outlines additional terms, tax implications for tendering shareholders, and procedures for submitting tender requests.
Additional details:
Name Of Issuer: Federated Hermes Project and Trade Finance Tender Fund
Title Of Class Of Securities: Common Shares of Beneficial Interest
Cumulative Assets Value: 891471784.56
Net Asset Value Per Share: 10.09
Tender Offer Amount: 44573589.23
Commencement Date: 2025-02-21
Notice Date: 2025-03-21
Expiration Date: 2025-03-21
Repurchase Valuation Date: 2025-03-21
Acceptance Date: 2025-03-21
Form Type: SC TO-I/A
Filing Date: 2025-02-21
Corporate Action: Tender-offer
Type: Update
Accession Number: 000162363225000247
Filing Summary: This document is a Final Amendment to the Issuer Tender Offer Statement on Schedule TO, initially filed on November 20, 2024, by the Federated Hermes Project and Trade Finance Tender Fund. The amendment relates to the Fund’s offer to repurchase common shares of beneficial interest from shareholders, with an aggregate amount up to $43,987,595.10 set for the repurchase. No shares were tendered for repurchase during this offer period, and the net asset value per share was determined to be $10.17 as of December 19, 2024. The filing serves as an update reporting these results, indicating no shareholder participation in the tender offer.
Additional details:
Title Of Class Of Securities: Common Shares of Beneficial Interest
Cusip Number: 31424D104
Date Tender Offer First Published: 2024-11-20
Amount Accepted: $0
Net Asset Value Per Share: $10.17
Date Of Net Asset Value: 2024-12-19
Form Type: SC TO-I
Filing Date: 2024-08-23
Corporate Action: Tender-offer
Type: Update
Accession Number: 000162363224001311
Filing Summary: The Federated Hermes Project and Trade Finance Tender Fund has initiated a tender offer to repurchase common shares of beneficial interest from its shareholders. The offer is scheduled to expire on September 23, 2024, unless extended. The fund has stated its intention to repurchase shares up to $39,189,650.35, which equates to 5% of the net assets of the fund as of August 9, 2024. Payments for the shares repurchased will be made within five business days after the expiration date. The offer's purpose is to provide liquidity to its shareholders, and it is subject to certain terms and conditions outlined in the Offer to Repurchase. Shareholders have the right to withdraw their tenders prior to the expiration date.
Additional details:
Acquirer Cik: 1677615
Target Cik: 1677615
: 0
Percentage: 5
Form Type: SC TO-I/A
Filing Date: 2024-08-23
Corporate Action: Tender-offer
Type: Update
Accession Number: 000162363224001314
Filing Summary: The Federated Hermes Project and Trade Finance Tender Fund filed a final amendment to a tender offer statement. This document pertains to an issuer tender offer subject to Rule 13e-4. The tender offer was initially filed with the SEC on May 23, 2024, proposing to repurchase common shares for up to $34,969,128.97. However, no shares were tendered or accepted as of the net asset value determination date, June 24, 2024. The filing indicates the conclusion of the offer without any shares being repurchased, finalized on August 23, 2024.
Additional details:
Acquirer Cik: 1677615
Target Cik: 1677615
: 0
Price: 10.09
Form Type: SC TO-I
Filing Date: 2024-02-23
Corporate Action: Tender-offer
Type: New
Accession Number: 000162363224000266
Filing Summary: Federated Hermes Project and Trade Finance Tender Fund is launching a tender offer to repurchase up to 5% of its net assets as of February 9, 2024, totaling approximately $30,257,558.78. The offer commenced on February 23, 2024, and the expiration date is set for March 22, 2024. The shares will be repurchased based on the net asset value per share, calculated to be $9.96 as of February 9, 2024. The offer aims to provide liquidity to shareholders, with payment made within five business days post-expiration date. Shareholders have the option to withdraw offers until the expiration date.
Additional details:
Acquirer Cik: 1677615
Target Cik: 1677615
: stock
Price: 9.96
Percentage: 5
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