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Brazil’s Aegea announces final tender results for 5¾% notes due 2024
By William Gullotti
Buffalo, N.Y., May 19 – Aegea Saneamento e Participacoes SA wholly owned subsidiary Aegea Finance Sarl announced the expiration and final results of its cash tender offer for any and all of its $400 million outstanding 5¾% senior notes due 2024 (Cusips: 00775CAA4, P01014AA0), according to a press release.
Holders had tendered $346,181,000 aggregate principal amount, representing 86.55% of the outstanding notes, by the deadline at 11:59 p.m. ET on May 18.
As previously reported, the company had received tenders of $340,986,000 principal amount of the notes by the May 4 early tender deadline.
As announced on April 21, Aegea is offering to buy the notes for a total consideration of $1,028.75 per $1,000 note, inclusive of a $30 early tender payment for noteholders who tendered by the early deadline.
The additional $5,195,000 notes tendered will not be eligible for the early tender payment; the tender consideration for those tenders is $998.75 per $1,000 note.
In both cases, noteholders will also receive accrued and unpaid interest up to, but excluding, the May 23 settlement date.
According to the release, Aegea intends to issue redemption notices for the outstanding notes on the settlement date.
The remaining notes will be redeemed at 102.875 plus accrued and unpaid interest on May 26.
Banco BTG Pactual SA – Cayman Branch (212 293-4600, OL-DCM@btgpactual.com), Itau BBA USA Securities, Inc. (888 770-4828, 212 710-6749), Morgan Stanley & Co. LLC (800 624-1808, 212 761-1057), Banco Bradesco BBI SA (646 432-6642) and J.P. Morgan Securities LLC (866 846-2874, 212 834-7279) are the dealer managers for the tender offer and the solicitation agents for the consent solicitation.
D.F. King & Co., Inc. (800 249-7148, 212 269-5550, aegea@dfking.com) is the information and tender agent for the offer and solicitation.
Sao Paulo, Brazil-based Aegea Saneamento is an operator of public sanitation concessions in Brazil.
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