Brazil’s Marfrig tenders, solicits consents for 9˝% notes due 2020

By Jennifer Chiou

New York, Nov. 14 – Marfrig Overseas Ltd. is tendering for its $775 million of outstanding 9˝% senior notes due 2020, according to a news release.

Marfrig Overseas is also soliciting consents to eliminate substantially all of the restrictive covenants and certain events of default contained in the note indenture.

For each $1,000 principal amount, the company is offering a total consideration of $1,075, which includes an early tender payment of $30.00 for those who tender prior to 5 p.m. ET on Dec. 1.

The company will also pay accrued interest to the settlement date.

The offer deadline is 11:59 p.m. ET on Dec. 12.

The information agent and tender agent is D.F. King & Co., Inc. (212 269-5550 for bank and brokers or 888 591-6309 for others; marfrig@dfking.com).

The dealer managers are BB Securities Ltd. (attn: operation department; 44 20 7367-5803; bbssettlements@bb.com.br), Banco Bradesco BBI SA (attn: fixed income division; 212 888-9145), Banco BTG Pactual SA - Cayman Branch (attn: Sandy Severino; 646 924-2535) and Santander Investment Securities Inc. (attn: liability management; 212 940-1442; conor.nugent@santander.us).

Marfrig is a food processing company based in Sao Paulo.

© 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.