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Simpar Europe announces cash tender offer for 7¾% notes due 2024
By Cady Vishniac
Detroit, Jan. 11 – Simpar SA finance subsidiary Simpar Europe launched on Jan. 11 an offer to repurchase for cash all of its $625 million outstanding of its 7¾% notes due 2024 (ISINs: US46590PAB94, USL5800PAB87), according to a press release.
The notes are guaranteed by Simpar.
The notes will be redeemed for $1,067.50 per $1,000 face amount of note plus interest to but excluding the redemption date.
The offer expires at 5 p.m. ET on Jan. 15, or 10 days after any extension of the tender offer. Validly tendered notes may be withdrawn up to the expiration deadline.
The redemption is conditional on the issuance of new notes, and holders who do not wish to be paid in cash may exchange their old notes for consideration consisting of the new issue.
The tender agent and information agent is D.F. King & Co., Inc. (866 620-2535, 212 269-5550, jsl@dfking.com).
The dealer managers are Banco BTG Pactual S.A. – Cayman Branch (212 293-4600), J.P. Morgan Securities LLC (866 834-4666, 212 834-3424), Morgan Stanley & Co. LLC (800 624-1808, 212 761-1057), Santander Investment Securities Inc. (855 404-3636, 212 940-1442) and UBS Securities LLC (888 719-4210, 203 719-4210).
Simpar is a Sao-Paulo based holding company with subsidiaries operating in the insurance, freight, vehicle trade and property management sectors. Simpar Europe is its Luxembourg-based finance subsidiary.
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