Braskem Netherlands Finance B.V. (“Braskem Netherlands Finance“) today announces the results of the offer to purchase for cash any and all of the outstanding 3.500% Notes due 2023 (the “2023 Notes“) issued by Braskem Finance Netherlands (the “2023 Notes Offer“). Braskem America Finance Company (“Braskem America Finance” and, together with Braskem Netherlands Finance, the “Offerors” and each, an “Offeror“) today announces the results of the offer to purchase for cash any and all of the outstanding 7.125% Notes due 2041 (the “2041 Notes” and, together with the 2023 Notes, the “Notes“) issued by Braskem America Finance Company (the “2041 Notes Offer” and, together with the 2023 Notes Offer, the “Offers“).
As of 5:00 p.m. (New York City time), on June 17, 2021 (the “Expiration Date“), as reported by D.F. King & Co., Inc., the information and tender agent for the Offers, the principal amounts of the Notes listed in the table below have been validly tendered and not validly withdrawn. These amounts do not include any amount of the Notes tendered pursuant to the Guaranteed Delivery Procedures (as defined in the Offer to Purchase).
In addition, certain general conditions to the Offers as described in the offer to purchase dated June 11, 2021 (the “Offer to Purchase“) have been satisfied, and each of the Offerors has accepted for purchase Notes that were validly tendered and not validly withdrawn prior to the Expiration Date, as summarized in the table below. Each of the Offerors will pay the applicable Consideration (as defined in the Offer to Purchase) for each US$1,000 principal amount of Notes validly tendered and accepted for payment, plus Accrued Interest (as defined in the Offer to Purchase).
Title of Security |
Security Identifiers |
Principal Amount |
Principal Amount Tendered and Accepted(2)(3) |
3.500% Notes due 2023 |
CUSIP: 10554T AA3 / N15516 AA0 ISIN: US10554TAA34 / USN15516AA01 |
US$206,895,000 |
US$70,465,000 |
7.125% Notes due 2041 |
CUSIP: 10554CAA0 / U1065PAA9 ISIN: US10554CAA09 / USU1065PAA94 |
US$750,000,000 |
US$163,015,000 |
(1) |
As of March 31, 2021. |
(2) |
As reported by D.F. King & Co., Inc., the information and tender agent for the Offers as of the Expiration Date. |
(3) |
Does not include US$6,247,000 principal amount of 2041 Notes tendered pursuant to the Guaranteed Delivery Procedures (as defined in the Offer to Purchase), which remain subject to the holders’ performance of the delivery requirements under such Guaranteed Delivery Procedures (as described in the Offer to Purchase). |
The settlement date with respect to each of the Offers is expected to occur on or about June 22, 2021.
The Offerors have retained Credit Agricole Securities (USA) Inc. and Santander Investment Securities Inc. to serve as dealer managers and D.F. King & Co., Inc. to serve as information and tender agent for the Offers. The Offer to Purchase, the related Notice of Guaranteed Delivery and any related supplements are available at the D.F. King & Co., Inc. website at www.dfking.com/braskem. The full details of the Offers, including complete instructions on how to tender Notes, are included in the Offer to Purchase. Holders of Notes are strongly encouraged to carefully read the Offer to Purchase, including materials incorporated by reference therein, because they contain important information. Requests for the Offer to Purchase and any related supplements may also be directed to D.F. King & Co., Inc. by telephone at +1 (212) 269-5550 or +1 (888) 644-6071 (US toll free) or in writing at braskem@dfking.com. Documents relating to the Offers, including the Offer to Purchase and the Notice of Guaranteed Delivery, are also available at www.dfking.com/braskem. Questions about the Offers may be directed to Credit Agricole Securities (USA) Inc. by telephone at +1 (866) 807-6030 (toll free) or +1 (212) 261-7802 (collect); and Santander Investment Securities Inc. by telephone at +1 (855) 404-3636 (toll free) or +1 (212) 940-1442 (collect).