ISA Capital do Brasil receives consents to amend 7 7/8%, 8.8% notes

New York, Nov. 3 - ISA Capital do Brasil SA said it received the necessary consents to amend the indentures for its 7 7/8% senior notes due 2012 and 8.8% senior notes due 2017.

The solicitation began on Oct. 21 and ended at 5 p.m. ET on Nov. 3.

By the deadline, ISA Capital had received consents from holders of more than 50% of each series of debt.

The consents were to amend the note indenture to permit the restricted subsidiaries under the indentures other than operating subsidiary Companhia de Transmissao de Energia Eletrica Paulista to enter into proposed financing arrangements with Banco Nacional de Desenvolvimento Economico e Social, other government-owned Brazilian banks and agencies and Brazilian commercial banks; to permit the company to issue unsecured guarantees in connection with such proposed financing; and to permit an increase in the amount of debt that the company may permit CTEEP and the restricted subsidiaries to incur.

Bank of America Merrill Lynch was the solicitation agent (888 292-0070 or call collect 646 855-3401). Global Bondholder Services Corp. was information agent (866 873-6300 or call collect 212 430-3774).

ISA Capital is a Sao Paulo, Brazil, company formed to participate in the sale by the government of the state of Sao Paulo of 50.1% of the common stock of CTEEP and 21% of the capital stock. It currently owns 89.4% of CTEEP's common stock and 37.5% of its capital stock.

© 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.