Brazil’s Raizen gets tenders for $195.94 million of 7% notes due 2017

By Angela McDaniels

Tacoma, Wash., March 21 – Raizen Energia SA subsidiary Raizen Energy Finance Ltd. received tenders for $195,943,000 principal amount, or 48.99%, of its 7% senior notes due 2017 and accepted all of the tendered notes for purchase, according to a company news release.

As previously reported, the company offered to buy back up to $200 million principal amount of the $400 million of outstanding notes. The tender offer began Feb. 22 and ended at 11:59 p.m. ET on March 18.

As of the early tender deadline, 5 p.m. ET on March 4, holders had tendered $195,443,000, or 48.86%, of the notes.

The company will pay $1,032.50, which includes a $30.00 early tender payment, per $1,000 principal amount of notes tendered by the early tender time.

Holders who tendered after the early tender time will receive $1,002.50 per $1,000 principal amount.

The company will also pay accrued interest up to but excluding the settlement date, which will be March 22.

Notes could be tendered only in denominations of $100,000 and any integral multiple of $1,000 in excess of that.

The offer was not conditioned on any minimum participation or on obtaining any financing.

Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106), Credit Agricole Securities (USA) Inc. (866 807-6030 or 212-261-7802) and J.P. Morgan Securities LLC (866 846-2874 or 212 834-7279) are the dealer managers. Global Bondholder Services Corp. (212 430-3774 for banks and brokers, 866 470-4500 for all others) is the information and tender agent.

The energy company is based in Sao Paulo.

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