Brazil’s Raizen Fuels prices tender offer for 5.3% notes due 2027

By Wendy Van Sickle

Columbus, Ohio, March 1 – Raizen Fuels Finance SA announced the consideration in its offer to purchase for cash any and all of its $725 million outstanding 5.3% notes due 2027 (Cusip: 75102XAA4, L7909CAA5) guaranteed by Raizen SA and Raizen Energia SA, according to a Monday press release.

The purchase price per $1,000 principal amount will be $1,000.33, which is based on the 4 1/8% U.S. Treasury due Feb. 15, 2027 and a fixed spread of 95 basis points.

In addition, the company will pay accrued interest.

Pricing was determined at 11 a.m. ET on March 1.

The offer will expire at 5 p.m. ET on March 1, which is also the withdrawal deadline.

The deadline for tenders under guaranteed delivery procedures is 5 p.m. ET on the second business day after the expiration date, expected to be March 5.

Settlement is slated for March 6.

The tender offer is not contingent upon the tender of any minimum principal amount of notes. However, it is conditioned on Raizen Fuels pricing an offering of one or more issuances of debt securities generating sufficient proceeds to finance the tender offer.

The dealer managers for the tender offer are Citigroup Global Markets Inc. (800 558-3745, 212 723-6106), Itau BBA USA Securities, Inc. (888 770-4828 or 212 710-6749), J.P. Morgan Securities LLC (866 846-2874 or 212 834-7279) and Morgan Stanley & Co. LLC (800 624-1808 or 212 761-1057).

The information and tender agent is D.F. King & Co., Inc. (212 269-5550 or 800 714-3305; raizen@dfking.com; www.dfking.com/raizen).

Raizen is a Brazilian energy company based in Rio de Janeiro.

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