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Marfrig gets tenders for 58% of 8 3/8% notes, 23% of 6 7/8% notes
By Susanna Moon
Chicago, Jan. 18 – Brazil’s Marfrig Global Foods SA said that Marfrig Holdings (Europe) BV received tenders for $125,204,000 principal amount, or about 58%, of its $215,841,000 8 3/8% senior notes due 2018 and $151,891,000 principal amount, or about 23%, of its $660,336,000 6 7/8% senior notes due 2019.
The tender results exclude $2.05 million principal amount of notes tendered under guaranteed delivery procedures, according to a company notice.
As announced Jan. 5, the purchase price per $1,000 principal amount will be $1,020 for the 8 3/8% notes and $1,030 for the 6 7/8% notes.
Holders will also receive accrued interest up to but excluding the settlement date of Jan. 19.
The tender offers ended at 5 p.m. ET on Jan. 17.
The offers were conditioned upon closing of a concurrent offering of senior notes by MARB BondCo plc and guaranteed by Marfrig Global Foods SA, Marfrig Holdings and Marfrig Overseas Ltd.
As reported, Marfrig BondCo plc, a subsidiary of Marfrig Global Foods SA, priced $1 billion of seven-year senior notes on Jan. 11 at 98.641 for a yield of 7 1/8%.
The information and tender agent is D.F. King & Co., Inc. (212 269-5550, 866 388-7452, fax 212 709-3328, 212 269-5552, marfrig@dfking.com or dfking.com/marfrig).
The dealer managers are BB Securities Ltd. (+44 20 7367-5803 or bbssettlements@bb.com.br), Banco Bradesco BBI SA (212 888-9145 or philip.searson@bradescobbi.com.br), Banco BTG Pactual SA – Cayman Branch (212 293-4600 or OL-DCM@btgpactual.com), HSBC Securities (USA) Inc. (888 HSBC-4LM, 212 525-5552 or Liability.Management@hsbcib.com), Nomura Securities International, Inc. (800 638-2268, gcp_us_syndicate@us.nomura.com) and Santander Investment Securities Inc. (855 404-3636, 212 940-1442 or liabilitymanagement@santander.us).
Marfrig Overseas is a subsidiary of Marfrig Global Foods SA, Sao Paulo-based food processing company.
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