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Argentina’s Arcor takes in tenders for 25.66% of 7¼% notes due 2017
New York, July 1 – Arcor SAIC said that holders tendered $51,317,000, or 25.66%, of its $200 million of 7¼% notes due 2017.
The tenders ended at 5 p.m. ET on July 1. Settlement will take place on July 7.
Arcor announced the tender on June 22, saying it would pay $1,018.13 per $1,000 principal amount of notes plus accrued interest up to but excluding the settlement date.
Arcor planned to finance the tender through the issuance of new notes and subsequently priced $350 million of 6% notes due 2023 at par.
It has also issued a make-whole call for the outstanding notes. They will be redeemed on Aug. 1 at 101.813% of par plus accrued interest up to but excluding the redemption date.
Itau BBA USA Securities, Inc. (888 710-6749 or 212 710-6749), J.P. Morgan Securities LLC (866 846-2874 or 212 834-7279) and Santander Investment Securities Inc. (855 404-3636, 212 940-1442 or conor.nugent@santander.us) are dealer managers. Global Bondholder Services Corp. (212 430-3774 or 866 470-4200) is information and tender agent.
Arcor is a Buenos Aires-based maker of candy and other foods.
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