Brazil’s Rede D’Or ends tender offer, accepts notes to original cap

By Mary-Katherine Stinson

Lexington, Ky., Nov. 4 – Rede D’Or Sao Luiz SA subsidiary Rede D’or Finance Sarl reported the final results of its tender offer, accepting for purchase $134,999,000 of its 4½% guaranteed notes due 2030 (Cusips: 75735GAA6, L7915TAA0) representing 15.25% of the total notes outstanding, according to a company release.

The company was conducting a tender offer to buy up to $135 million of its $885 million outstanding notes.

The offer was oversubscribed by the early deadline and the company elected not to increase the maximum tender amount. No notes tendered after the early deadline of 5 p.m. ET on Oct. 20, or additional notes tendered by the early deadline, have been accepted.

The company earlier announced that noteholders tendered $359,879,000 of the notes by the early deadline.

Tendered notes that were not accepted for purchase will be returned to the noteholders.

As of the expiration date, the outstanding principal of the notes was $750,001,000.

The offer expired at 11:59 p.m. ET on Nov. 3

The early settlement date was Oct. 22.

Itau BBA USA Securities, Inc. (888 770-4828, 212 710-6749) and J.P. Morgan Securities LLC (866 846-2874, 212 834-4533) acted as dealer managers for the offer.

D.F. King & Co., Inc. was the information and tender agent for the offer (866 356-7813, 212 269-5550, rdsl@dfking.com).

San Paulo-based Rede D’Or is a hospital owner and operator.

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