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Votorantim Participacoes solicits consents for 6.625%, 7.75%, 7.875% notes
New York, Sept. 9 - Votorantim Participacoes SA announced consent solicitations by three of its financing subsidiaries.
Voto-Votorantim Overseas Trading Operations III Ltd. is soliciting consents from holders of its $208.2 million of outstanding 7.875% notes due 2014, Voto-Votorantim Overseas Trading Operations IV Ltd. is soliciting consents from holders of its $400 million of outstanding 7.75% notes due 2020 and Voto-Votorantim Overseas Trading Operations V Ltd. is soliciting consents from holders of its $1 billion of outstanding 6.625% senior notes due 2019.
In each case, the issuer is seeking consents to amend the note indentures to, among other things, substantially conform certain provisions to the corresponding provisions in the indenture dated April 5, 2010 governing Voto-Votorantim Ltd.'s $750 million 6.75% senior notes due 2021 and the indenture dated April 28, 2010 governing Voto-Votorantim Ltd.'s €750 million 5.25% senior notes due 2017.
The amendments will result in a substantially identical covenant package for the company's five outstanding series of senior notes, providing more flexibility and being less restrictive.
The amendments will also allow the respective issuers of the notes to be substituted under certain conditions.
The consent solicitations end at 5 p.m. ET on Sept. 20.
Holders who deliver consents will receive a cash payment of $1.50 per $1,000 principal amount.
The solicitation for each series of notes is subject to receiving consents from holders of 50% of that series.
The information agent is D.F. King & Co., Inc. (banks and brokers call collect 212 269-5550, others call 800 628-8536). The solicitation agent is BofA Merrill Lynch (888 292-0070 or call collect 646 855-3401).
Votorantim is a Sao Paulo, Brazil-based privately held conglomerates.
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