| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers I > Headlines for InterCement Participacoes SA > News item |
Brazil’s InterCement begins tender offer, consent bid for 5¾% notes
By Angela McDaniels
Tacoma, Wash., July 11 – InterCement Participacoes SA began a tender offer for the $670,474,000 of outstanding 5¾% senior notes due 2024 issued by Cimpor Financial Operations BV and guaranteed by InterCement and InterCement Brasil SA, according to a company news release.
InterCement is also soliciting consents to amendments that would eliminate substantially all of the restrictive covenants and some events of default in the indenture governing the notes.
The tender offer and consent solicitation will expire at 11:59 p.m. ET on Aug. 5.
The company is offering $805 for each $1,000 principal amount of notes. This includes an early participation payment equal to $30 for each $1,000 principal amount of notes tendered with consents by 5 p.m. ET on July 22, the early tender date.
Holders will also receive accrued interest up to but excluding the applicable settlement date. The early settlement date is expected to be within three business days of the early tender date, and the final settlement date is expected to be within three business days of the expiration date.
Holders who tender their notes must consent to the proposed amendments, and holders cannot deliver consents without tendering their related notes.
The proposed amendments require the consents of holders of a majority of the outstanding notes (excluding any notes held by InterCement or its affiliates).
The tender offer is not conditioned on the receipt of the needed consents.
The dealer managers and solicitation agents are Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106) and HSBC Securities (USA) Inc. (888 HSBC-4LM or 212 525-5552). The information agent is D.F. King & Co., Inc. (877 283-0316, 212 269-5550 or intercement@dfking.com).
InterCement is a Sao Paulo-based cement and concrete company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.