Brazil’s Rede D’Or tender for $135 million 4½% notes oversubscribed at early date

By Wendy Van Sickle

Columbus, Ohio, Oct. 21 – Rede D’Or Sao Luiz SA subsidiary Rede D’Or Finance Sarl’s cash offer for up to $135 million of its $885 million outstanding 4½% guaranteed notes due 2030 (Cusips: 75735GAA6, L7915TAA0) was well oversubscribed by the early deadline, according to a press release.

The company said it received early tenders of $359,879,000 notes by the early deadline, 5 p.m. ET on Oct. 20, which was also the withdrawal deadline.

Early tenders will be accepted on a prorated basis in accordance with the $135 million cap, the company said.

As announced on Oct. 6, the company was offering to pay $1,006.25 per $1,000 note, an amount that includes a $30 early tender premium for noteholders who tendered their notes by the early deadline.

Interest will also be paid to the early settlement date, which will be Oct. 22.

The expiration deadline is 11:59 p.m. ET on Nov. 3, but no further tenders will be accepted.

Itau BBA USA Securities, Inc. (888 770-4828, 212 710-6749) and J.P. Morgan Securities LLC (866 846-2874, 212 834-4533) are acting as dealer managers.

D.F. King & Co., Inc is the information and tender agent for the offer (866 356-7813, 212 269-5550, rdsl@dfking.com).

Sao Paulo-based Rede D’Or is a hospital owner and operator.

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