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Celulosa Arauco tenders for 7¼% notes, 5% notes, 4¾% notes
New York, Oct. 12 – Celulosa Arauco y Constitucion SA began a tender offer for capped amounts of three series of its notes.
The company is offering to buy up to $250 million of its $499,261,000 of outstanding 7¼% notes due 2019, up to $200 million of its $395,786,000 of outstanding 5% notes due 2021 and up to $250 million of its $497,456,000 of outstanding 4¾% notes due 2022, according to a news release.
For the 7¼% notes, the price on offer is $1,090.00 per $1,000 principal amount, for the 5% it is $1,078.75 per $1,000 principal amount and for the 4¾% notes Arauco will pay $1,070.00 per $1,000 principal amount.
All the prices include an early tender payment of $30.00 per $1,000 that will only be paid to those holders who participate by 5 p.m. ET on Oct. 25.
The tender ends at 11:59 p.m. ET on Nov. 8.
In addition, holders will receive accrued interest up to but excluding the settlement date.
The tender is subject to conditions including that the company obtain financing on acceptable terms.
J.P. Morgan Securities LLC (866 846-2874 or 212 834-7279) and Merrill Lynch, Pierce, Fenner & Smith Inc. (888 292-0070 or 646 855-8988) are dealer managers. Global Bondholder Services Corp. (866 470-3700 or 212 430-3774) is information agent.
Arauco is a Santiago, Chile-based wood pulp company.
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