Banco ABC Brasil holders tender $230,000 more 7 7/8% notes due 2020

By Susanna Moon

Chicago, Nov. 3 – Banco ABC Brasil SA said investors had tendered another $230,000 of its $400 million outstanding 7 7/8% subordinated notes due 2020 since 5 p.m. ET on Oct. 19, the early tender date.

Banco ABC paid $31,061,360 to settle early tenders for $35,297,000, or 8.82%, of the notes, according to a company press release.

The bank said it will pay $202,400 to settle notes tendered after the early deadline.

The offer ended at 11:59 p.m. ET on Nov. 2. The bank began the offer for up to $100 million of the notes on Oct. 5.

As previously announced, the bank amended the payment terms of the offer so that holders who tender their notes after the early tender date also will receive the total purchase price of $880 per $1,000 principal amount.

The total payment includes an early tender premium of $30 per $1,000 of notes.

Originally, those who tendered their notes after the early tender deadline would have received the purchase price of $850 per $1,000 principal amount, or the total amount less the early tender premium.

Holders will also receive accrued interest to but excluding the settlement date, which was expected to be Oct. 21 for early tendered notes and Nov. 4 for any remaining tenders.

D. F. King & Co., Inc. (banks and brokers call 212 269-5550, all others call 877 536-1561, bancoabc@dfking.com) is the tender agent. Merrill Lynch, Pierce, Fenner & Smith Inc. (attn.: debt advisory, 888 292-0070, 646 855-8988), HSBC Securities (USA) Inc. (attn.: global liability management group, 888 HSBC-4LM, 212 525-5552) and Itau BBA USA Securities, Inc. (attn.: syndicate desk, 888 770-4828) are dealer managers for the offer.

The bank is based in Sao Paulo.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.