Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Tenders > Headlines for 2019 > News item |
Chile’s Celulosa Arauco prices tender offers for notes due 2021, 2022
By Wendy Van Sickle
Columbus, Ohio, Oct. 23 – Celulosa Arauco y Constitucion SA announced the considerations it will pay in its cash tender offers for any and all of its $135,121,000 outstanding 5% notes due 2021 and $255,855,000 outstanding 4¾% notes due 2022.
For each $1,000 principal amount of notes, the company will pay $1,036.21 for the 2021 notes and $1,052.17 for the 2022 notes.
The tender offers expire at 8 a.m. ET on Oct. 24. Settlement is expected to occur on or around Oct. 29.
Pricing was set using a yield to maturity equal to the sum of the bid-side yield on the applicable reference security as of 2 p.m. ET on Oct. 23 and a fixed spread. The reference security for the 2021 notes is the 2% U.S. Treasury due Jan. 15, 2021, and the reference security for the 2022 notes is the 2.5% U.S. Treasury due Jan. 15, 2022. The fixed spread is 35 basis points for the 2021 notes and 70 bps for the 2022 notes.
Tenders may be withdrawn at any time prior to the earlier of the expiration date and, if an offer is extended, the 10th business day after the start of that offer.
Holders who tender their notes under guaranteed delivery procedures must deliver their notes no later than 8 a.m. ET on Oct. 28.
The offers were announced on Oct. 17.
J.P. Morgan Securities LLC, Latin America debt capital markets (866 846-2874 or 212 834-7279) and Scotia Capital (USA) Inc., debt capital markets (800 372-3930 or 212 225-5559) are the dealer managers. Global Bondholder Services Corp. (866 470-3700, 212 430-3774 or https://gbsc-usa.com/arauco/) is the tender and information agent.
Celulosa Arauco is a pulp and forestry company based in Santiago, Chile.
© 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.