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CarVal funds extend early tender date for USJ Acucar’s 9 7/8% notes
By Marisa Wong
Morgantown, W.Va., Dec. 28 – Funds managed by CarVal Investors extended the early tender date of their tender offer for any and all of the $29,104,000 of outstanding 9 7/8% senior notes due 2019 issued by USJ Acucar e Alcool SA.
The early tender date is now 11:59 p.m. ET on Jan. 11, extended from 5 p.m. ET on Dec. 28. The early tender date now coincides with the expiration date of the offer.
CVI EMCVF Lux Securities Trading Sarl, EOC Lux Securities Sarl, CVI CVF III Lux Securities Sarl, CarVal GCF Lux Securities Sarl, CVI CVF II Lux Securities Trading Sarl, CVIC Lux Securities Trading Sarl and CVI AA Lux Securities Sarl launched the cash tender offer for USJ’s notes on Dec. 13.
The total consideration for each $1,000 principal amount will be $600, which includes a $50 early participation payment for notes tendered by the early deadline.
In addition, holders will receive accrued interest to but excluding the settlement date, which is expected to be three business days after the expiration date.
Tenders may no longer be withdrawn.
D.F. King & Co., Inc. (212 269-5550, 800 714-3310 or usj-carval@dfking.com) is the tender agent and information agent.
Based in Sao Paulo, Brazil, USJ processes sugarcane.
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