Votorantim’s St. Marys Cement launches tender offer for 2027 notes

By Marisa Wong

Los Angeles, March 25 – Votorantim Cimentos SA announced that subsidiary St. Marys Cement Inc. has begun a cash tender offer for any and all of its $500 million outstanding 5¾% notes due 2027 (Cusip: 78478EAA6, C86068AA8) guaranteed by Votorantim.

The company is offering a purchase price of $1,010 per $1,000 principal amount, according to a press release.

The company will also pay accrued interest.

The offer will expire at 5 p.m. ET on April 1. Settlement will be three business days after that.

Tenders may be withdrawn at or prior to the expiration time.

Tenders may be delivered under guaranteed delivery procedures.

The offer is not conditioned on any minimum amount being tendered but is subject to a new debt financing condition.

The issuer said it reserves the right to amend or terminate the offer at its discretion.

The current outstanding principal amount includes $41.5 million held by Votorantim Cimentos Internacional SA.

The dealer managers for the tender offer are Banco Bradesco BBI SA (+55 (11) 2169-4528), Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106), Goldman Sachs & Co. LLC at (800 828-3182), Itau BBA USA Securities, Inc. at (888 770-4828 or 212 710-6749), MUFG Securities Americas Inc. (877 744-4532 or 212 405-7481), Santander US Capital Markets LLC (855 404-3636 or 212 350 0660) and UBS Securities LLC (833 690-0971 or 212 882-5723).

D.F. King & Co., Inc. (www.dfking.com/vcimentos; 800 515-4479 or 212 269-5550; vcimentos@dfking.com) is the tender agent and information agent.

The cement company is based in Sao Paulo, Brazil.

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