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Mexico’s Cydsa extends early deadline of tender for 6¼% notes due 2027
By Rebecca Melvin
Concord, N.H., April 20 – Cydsa SAB de CV has extended the early tender time for its April 6 modified Dutch auction tender offer for up to a $40 million cash purchase price from its $450 million outstanding 6¼% senior notes due Oct. 4, 2027 (Cusips: 232553AA5, P3R26HAA8), according to a news release.
The early tender time has been extended to 5 p.m. ET on April 22 from 5 p.m. ET on April 19.
All other terms remain in full force and effect.
Cydsa will announce the clearing price, total consideration, tender offer consideration and the expected early settlement date for the tender offer by no later than 9 a.m. ET on the first business day after the revised early tender time.
As previously reported, tendering noteholders will be asked to submit a bid for the minimum acceptable total consideration to be paid in the range of $955 to $995 per $1,000 principal amount of notes. The clearing price will be determined based on bids received.
Holders who tender without specifying a bid price will be deemed to have specified the minimum price of $995 per $1,000 of notes.
Bids must be submitted in increments of $2.50.
The total consideration will include an early tender payment of $50 per $1,000 principal amount for those meeting the early deadline.
The offer will expire at 11:59 p.m. ET on May 3.
Goldman Sachs & Co. LLC (800 828-3182 and 212 357-1452) and Scotia Capital (USA) Inc. (212 225-5501) are the dealer managers.
D.F. King & Co., Inc. (800 669-5550, 212 232-3233, cydsa@dfking.com) is the information agent and the tender agent.
Cydsa is a Mexican chemical and textile company.
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