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Funds extend tender offer for USJ Acucar e Alcool’s 9 7/8% notes
By Angela McDaniels
Tacoma, Wash., Jan. 11 – Funds managed by CarVal Investors extended their tender offer for USJ Acucar e Alcool SA’s $29,104,000 outstanding 9 7/8% senior notes due 2019 to 11:59 p.m. ET on Jan. 18 from 11:59 p.m. ET on Jan. 11, according to a news release.
As of the previous expiration date, holders had tendered $1.8 million principal amount of notes.
The total consideration for each $1,000 principal amount of notes is $600, which includes a $50 early participation payment for notes tendered by the early tender date.
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.
On Dec. 28, the offerors extended the early tender date to 11:59 p.m. ET on Jan. 11 from 5 p.m. ET on Dec. 28.
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 tender offer on Dec. 13.
Tenders may no longer be withdrawn.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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