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Abril starts exchange for 10¼% notes, Tevecap's 12 5/8% notes, Editora's 9.45% notes
By Jennifer Chiou
New York, Oct. 10 - Abril Investments Corp. announced the start of an exchange offer for Tevecap SA's $47,757,000 of 12 5/8% registered notes due 2009.
Abril said it will issue an equal amount of 11¼% unregistered Brazilian real-linked notes due 2012 for the 12 5/8% notes.
Abril said it will also issue $51.66 million of the 11¼% notes for its $32 million of 10¼% guaranteed notes due 2008 as well as Editora Abril SA's $19.66 million of 9.45% notes due 2009.
The company said that the offer for the 12 5/8% notes ends at 5 p.m. ET on Nov. 9 while the offer for the other two notes series ends at 11 a.m. ET on the same date.
Tevecap is a Sao Paulo-based pay television operator.
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