Votorantim, Companhia Brasileira de Aluminio tender for three note series

By Jennifer Chiou

New York, June 4 - Votorantim Industrial SA announced the start of its cash tender offer for any and all of its $325,326,000 of 6 5/8% senior notes due 2019, while Voto-Votorantim Overseas Trading Operations IV Ltd. began an offer for any and all of its $316,903,000 of 7¾% notes due 2020 and Companhia Brasileira de Aluminio launched a cash offer for any and all of its $417,246,000 of 6¾% senior notes due 2021.

The 6 5/8% notes are unconditionally guaranteed by Votorantim Participacoes SA, Votorantim Cimentos SA and Companhia Brasileira de Aluminio, and the 6¾% notes are unconditionally guaranteed by Votorantim Participacoes and Votorantim Cimentos.

Voto-Votorantim and Companhia Brasileira de Aluminio are also soliciting consents to amend their note indentures to eliminate substantially all of the restrictive covenants, as well as various events of default and related provisions.

The companies are seeking consents from holders of a majority of each series.

For each $1,000 principal amount, Votorantim is offering $1,165 for the 6 5/8% notes, Voto-Votorantim $1,227.50 for the 7¾% notes and Companhia Brasileira will pay $1,192.50 for the 6¾% notes, the last two including a $30.00 consent payment.

The companies will also pay accrued interest.

The offers will end at 12:01 a.m. ET on June 11.

D.F. King & Co., Inc. is the information agent (800 967-4604 or call collect 212 269-5550 or 44 207 920 9700; voto@dfking.com).

Citigroup Global Markets Inc. (800 558‑3745 or call collect 212 723‑6106), Mitsubishi UFJ Securities at (877 744-4532 or call collect 212 405-7481), Morgan Stanley (800 624-1808 or all collect 212 761-1057) and Banco Votorantim at (212 339-7390) are the dealer managers.

The companies are subsidiaries of Votorantim Participacoes, a mining, metals and paper group based in Sao Paulo.

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