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Peru’s Cementos Pacasmayo tenders for up to $150 million 4½% notes
By Wendy Van Sickle
Columbus, Ohio, Nov. 26 – Cementos Pacasmayo SAA began a cash tender offer for up to $150 million of its $300 million of outstanding 4½% senior notes due 2023.
The total purchase price will be $1,005 for each $1,000 principal amount of notes, which includes an early tender premium of $30.00 per $1,000 of notes tendered by the early deadline of 5 p.m. ET on Dec. 7.
Holders who tender after the early deadline will receive $975 per $1,000 principal amount.
The company will also pay accrued interest up to but excluding the settlement date.
The tender offer will end at 11:59 p.m. ET on Dec. 21.
If the tender cap is exceeded, tendered notes will be accepted on a pro rata basis.
The offer is subject to some conditions, including that the company enters into a loan with proceeds sufficient to pay the total consideration and accrued interest on the tendered notes.
Tenders may be withdrawn up to the early tender date.
J.P. Morgan Securities LLC and Credicorp Capital Servicios Financieros SA are the dealer managers.
D.F. King & Co., Inc. (866 521-4192, 212 269-5550 or ecpac@dfking.com) is the tender and information agent.
Cementos Pacasmayo is a cement company located in the northern region of Peru.
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