Brazil’s Embraer tenders for up to $250 million notes due 2022, 2023

By Sarah Lizee

Olympia, Wash., Sept. 8 – Embraer SA indirect subsidiary Embraer Netherlands Finance BV launched an offer to purchase for cash up to $250 million of the $500 million 5.15% notes due 2022 (Cusip: 29082AAA5) issued by Yabora Industria Aeronautica SA and $540,518,000 5.696% notes due 2023 (Cusips: 29081YAD8, G30376AB6) issued by Embraer Overseas Ltd., according to a notice.

Both series are guaranteed by Embraer. The 2022 notes are also guaranteed by Yabora.

The offer will expire at 11:59 p.m. ET on Oct. 5.

The early tender date is 5 p.m. ET on Sept. 21.

The 2022 notes will have acceptance priority level 1, and the 2023 notes will have acceptance priority level 2.

The total consideration for the 2022 notes will be $1,017.50 per $1,000 of notes, and for the 2023 notes it will be $1,018.50 per $1,000 of notes.

The total consideration includes an early tender payment of $30 per $1,000 of notes, which is payable to eligible holders who tender their notes at or prior to the early tender date.

Holders will also receive accrued interest.

The offer is subject to a debt financing condition.

Tenders may be withdrawn prior to the early tender date.

Notes tendered for purchase may be subject to proration.

The dealer managers are BB Securities Ltd. (+44 207 367 5800), Banco Bradesco BBI SA (646 432-6642), Morgan Stanley & Co. LLC (800 624-1808, 212 761-1057), Natixis Securities Americas LLC (212 891-6100) and Santander Investment Securities Inc. (855 404-3636, 212 940-1442).

The tenders and information agent is D.F. King & Co., Inc. (embraer@dfking.com, 877 732-3617, 212 269-5550).

Embraer is a Brazilian aerospace conglomerate that produces commercial, military and other aircraft and provides aeronautical services.

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