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Hidrovias gets tenders for $700,000 more notes after early deadline
Chicago, Feb. 18 Hidrovias International Finance Sarl, a subsidiary of Hidrovias do Brasil SA, announced the final tender results from its tender offer for any and all of its $575.2 million outstanding 5.95% notes due 2025 (ISINs: US42953LAA08, USL48008AA19), according to a press release.
The company received tenders for an additional $700,000, or 0.1%, of the notes after the early tender deadline but before the final deadline.
As of 5 p.m. ET on Feb. 2, the early tender date, $425,821,000 of the notes, or 74%, were tendered, as previously reported.
After the final settlement date, $148,679,000 of the notes will remain outstanding.
The company was conducting a concurrent consent solicitation and received the requisite consents as of the early tender date to execute and deliver a supplemental indenture providing for the proposed amendments.
As previously reported, Hidrovias was offering $1,011.25 per $1,000 principal amount in the offer.
Early tendering noteholders also received an early tender payment of $50.00 for a total consideration of $1,061.25 per note.
Details
The early settlement date was expected for Feb. 9.
The tender offer and consent solicitation expired at 11:59 p.m. ET on Feb. 17.
D.F. King & Co., Inc. is the tender and information agent for tender offer and the consent solicitation (877 732 3617, hbsa@dfking.com).
Itau BBA USA Securities, Inc. (888 770-4828, 212 710-6749), J.P. Morgan Securities LLC (866 834-4666, 212 834-4087), BofA Securities, Inc. (888 292-0070, 646 855-8988, Morgan Stanley & Co. LLC (800 624-1808, 212 761-1057) and Santander Investment Securities Inc. (855 404-3636, 212 940-1442) are dealer managers and solicitation agents in connection with the tender offer and consent solicitation.
Based in Sao Paulo, Brazil, Hidrovias is the largest inland waterway services company in Brazil.
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