Brazil's DASA holders deliver consents needed to amend its 8¾% notes

By Susanna Moon

Chicago, Dec. 2 - DASA Finance Corp. said that investors tendered $214,249,000 principal amount, or 85.7%, of its 8¾% senior notes due 2018 as of midnight ET on Dec. 1, the early tender deadline.

The company said it received the majority of consents needed to amend the notes and that a supplemental indenture will become operative on the payment date.

For notes tendered by the early date, the company will pay $1,150 for each $1,000 principal amount, including an early tender premium of $30.00.

DASA also will pay accrued interest to the payment date.

The offer will expire at midnight ET on Dec. 15.

Holders who tender after the early date will receive $1,120 per $1,000 principal amount of notes plus accrued interest to the payment date.

The offer is conditioned upon receiving enough funds to purchase the notes through lines of credit from affiliates of Itau BBA USA Securities, Inc., according to a press release.

Withdrawal rights expired on the early tender deadline.

Itau BBA USA Securities (888 770-4828 or collect 212 710-6749) is the dealer manager and solicitation agent. D.F. King & Co., Inc. (800 967-4617 or banks and brokers call 212 269-5550) is the depositary and information agent.

The notes are guaranteed by Diagnosticos da America SA, which operates more than 300 diagnostic service centers, and is based in Sao Paulo, Brazil.

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