BRF announces early results for capped tender offer of 4¾% notes

Chicago, Sept. 25 – Brazil’s BRF SA announced the early tender results for its capped cash tender offer for its 4¾% senior notes due 2024 in a press release on Wednesday.

As of 5 p.m. ET on Sept. 24, the early tender date, $230,957,000 principal amount of the outstanding $750 million 2024 notes had been validly tendered and not validly withdrawn. The amount represents 30.79% of the amount outstanding. Up to $281,414,735 of the notes can be tendered.

Settlement for the notes tendered by the early deadline is expected for Sept. 26.

Holders who tendered their notes by the early tender date are eligible to receive the total consideration of $1,040 per $1,000 principal amount of notes plus interest, inclusive of an early tender premium of $30 per note.

Holders who tender their notes before the final expiration date are eligible to receive $1,010 per $1,000 principal amount of notes.

The offer will expire at 11:59 p.m. ET on Oct. 8.

The tender was conditional upon a financing condition which has been satisfied.

The tender agent is D.F. King & Co., Inc. (212 269-5550, 866 796-7184 toll free, +44 20 7920 9700 or brf@dfking.com).

The dealer managers are BB Securities Ltd. (+44 20 7367 5800, 646 432-6643 collect), Banco BTG Pactual SA – Cayman Branch (212 293-4600 collect or OL-DCM@btgpactual.com), Citigroup Global Markets Inc. (212 723-6106 toll free or 800 558-3745 collect), Itau BBA USA Securities, Inc. (212 710-6749 collect) and Santander Investment Securities Inc. (855 404-3636 toll free or 212 940-1442 collect).

BRF is a food company based in Itajai, Brazil.

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