Jafra Cosmetics, units call $69.5 million notes, subject to indenture conditions

By Caroline Salls

Pittsburgh, Jan. 20 - Jafra Cosmetics International Inc., Distribuidora Comercial Jafra SA de CV and Jafra Worldwide Holdings Sarl said they will redeem $69.5 million of notes on Feb. 17 at a price of 110.750% plus interest accrued to the redemption date, subject to the satisfaction of certain conditions under the note indenture.

The redemption is subject to the consummation by Feb. 17 of an equity offering on terms and conditions satisfactory to the issuers and the delivery to the trustee of written notice by the issuers confirming the consummation of the equity offering.

The written notice will be in effect on the day of delivery if delivered before 11 a.m. ET on that day, and at 12:01 a.m. ET the following business day if delivered after 11 a.m. ET.

If the conditions are not satisfied by Feb. 17, the notes can be redeemed anytime through March 18, provided that the conditions are met by March 18.

After the redemption, 65% of the notes will remain outstanding.

Jafra Cosmetics is a Luxembourg-based direct seller of personal care products.

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