Dominican Republic's Cerveceria Nacional wraps tender offer for 8% notes due 2014

By Laura Lutz

Des Moines, March 18 - Cerveceria Nacional Dominicana, C por A announced the final expiration of the tender offer for up to $130 million of its 8% senior notes due 2014.

When the offer began on Feb. 19, there was $205 million principal amount of the notes outstanding.

Holders tendered a total of $118.69 million notes by the final deadline at 5 p.m. ET on Monday. The amount of tendered notes had not changed since the early tender deadline on March 4.

The early deadline was extended to March 4 from Feb. 29. As of 5 p.m. ET on Feb. 29, $110.06 million of notes had been tendered.

For each $1,000 principal amount, the payout will be $1,035 for notes tendered by the early tender deadline and $1,020 for notes tendered after that. The company will also pay accrued interest up to but excluding the payment date.

Final settlement is expected on Wednesday.

The Santo Domingo, Dominican Republic, brewing company previously said it was tendering for the notes, which are denominated in dollars, to replace them with Dominican peso-denominated debt.

Standard Bank plc was the dealer manager (contact Jay Tom at 212 407-5174 or Carl Piccolo at 44 20 7815 3142).

Bondholder Communications Group was the information and tender agent (contact Chloe Daniels at 212 809-2663 or 44 20 7382 4580, cdaniels@bondcom.com).

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