Mexico’s Cydsa extends early tender time for 6¼% notes due 2027

By Mary-Katherine Stinson

Lexington, Ky., Sept. 21 – Cydsa SAB de CV has extended the early tender time through the expiration of the tender offer for its $331.67 million outstanding 6¼% senior notes due 2027 (Cusips: 232553AA5, P3R26HAA8), according to a press release.

As previously reported, the company is offering to purchase up to $100 million aggregate purchase price of the notes.

As of the original early tender time of 5 p.m. ET on Sept. 20, $76,605,000 aggregate principal amount of the notes have been tendered.

Cydsa is offering $955 per $1,000 note, inclusive of a $50 early tender payment. This was originally only available to noteholders who tendered by the early deadline. However, with the amendment of the offer, the early tender payment will now be paid to holders who tender by the offer’s expiration date.

Payment will be made in U.S. dollars. Interest will also be paid to the applicable settlement date.

Tenders may be prorated.

The early tender time is 5 p.m. ET on Sept. 20, also the withdrawal deadline.

Early settlement is expected to occur on Sept. 22.

Following the early settlement, the outstanding amount of the notes will be $255.07 million.

The offer will expire at 5 p.m. ET on Oct. 5.

Santander US Capital Markets LLC is the sole dealer manager (212 940-1442, 855 404-3636, usdcmlm@santander.us).

D.F. King & Co., Inc. is the information and tender agent for the offer (800 628-8510, 212 232-3233, cydsa@dfking.com).

Cydsa is a Mexican diversified company with products ranging from edible salt to specialty chemicals.

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