Uruguay’s Faroy to trade $13 million 8% notes due 2020 for new notes

By Wendy Van Sickle

Columbus, Ohio, Dec. 18 – Faroy SA said holders of 100% of its $13 million of 8% senior secured notes due 2020 tendered their notes under an exchange offer, according to a news release.

The notes will be exchanged for new step-up secured notes due 2033 under an offer made on Dec. 7.

The offer expired at 9 a.m. ET on Dec. 18.

Settlement is expected to occur on Dec. 22.

D.F. King & Co., Inc. (877 283-0318, 212 269-5550 or faroy@dfking.com) is the information agent.

The property owner and developer is based in Punta del Este, Uruguay.

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