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Becle gives final results of cash tender for 3¾% notes due 2025
By Rebecca Melvin
Concord, N.H., Oct. 27 – Becle, SAB de CV said an additional $351,000 principal amount of its 3¾% senior notes due 2025 (Cusips: 47215TAA6, P59705AA4) were tendered after the early deadline but prior to the expiration of its Sept. 27 tender offer, bringing the total aggregate principal amount of notes tendered to $346,639,000, or about 69.33% of the outstanding principal amount of notes, according to a company release.
Holders who tendered their notes prior to expiration at 11:59 p.m. ET on Oct. 25 but after the early deadline at 5 p.m. ET on Oct. 8 will receive a consideration of $1,046.96 per $1,000 principal amount of notes, which is equal to the total consideration minus the consent payment. In addition, holders of the additional tendered notes will receive accrued interest to the final settlement date.
The funding condition was satisfied with the Oct. 14 closing of the issuer’s offering of 2.5% senior notes due 2031.
As previously reported, Becle had reported tenders of $346,288,000 of notes as of the early deadline of Morgan Stanley & Co. LLC’s tender offer for any and all of the $500 million of outstanding notes.
Morgan Stanley also launched a related consent solicitation for which the required consents were delivered by the early deadline.
D.F. King & Co., Inc. (800 884-5101) is tender agent and information agent for the consent solicitation.
Morgan Stanley (212 761-1057, 800 624-1808), Citigroup Global Markets Inc. (212 723-6106, 800 558-3745) and Goldman Sachs & Co. LLC (212 357-1452, 800 828-3182) are the dealer managers.
Becle is a Mexico City-based producer, bottler and distributor of alcoholic and non-alcoholic beverages.
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