Natura announces success of consent solicitation for Avon 6.95% notes

By Wendy Van Sickle

Columbus, Ohio, Oct. 1 – Brazil’s Natura Cosmeticos SA said requisite consents were received from holders of Avon Products, Inc.’s $243,847,000 of 6.95% notes due 2043 under a solicitation announced on Sept. 25, according to a news release.

The consent solicitation ended 5 p.m. ET on Oct. 1, by which time sufficient consents were received to pass the proposed amendments.

Holders who delivered their consents will receive a consent fee of $12.50 per $1,000 principal amount of notes.

Consents were being solicited to amend the definition of “change of control” to provide that a contemplated merger will not constitute a change of control and to add to, amend, supplement or change some other related defined terms.

Payment is expected to be made on Oct. 3.

Consents were needed from holders of at least a majority of the principal amount of a series to effect the amendments.

On May 22, Natura Cosmetics entered into an agreement and plan of mergers under which Avon Products will become a wholly owned direct subsidiary of Natura & Co Holding.

Banco Bradesco BBI SA (646 432-6643), Citigroup Global Markets Inc. (212 723-6106 or 800 558-3745), and Itau BBA USA Securities, Inc. (888 770-4828 or 212 710-6749) are acting as solicitation agents.

D.F. King & Co., Inc. (212 269-5550, 866 406-2285 or e-mail at avon@dfking.com) is the information and tabulation agent.

Natura is a Sao Paulo-based maker and marketer of cosmetics, household and personal care products. Avon is a New York-based beauty products company.

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