Brazil's Lupatech gets consents needed to amend 9 7/8% perpetual bonds

By Angela McDaniels

Tacoma, Wash., Dec. 14 - Lupatech SA subsidiary Lupatech Finance Ltd. received enough consents from the holders of its $275 million of 9 7/8% guaranteed perpetual bonds to amend the bond indenture, according to a company news release.

The company said a supplemental indenture implementing the amendments will be executed shortly.

The amendments will release the bond guarantee provided by Steelinject Injecao de Acos Ltda. and allow Lupatech to dispose of Steelinject Injecao de Acos.

The amendments will also change some of the restrictive covenants in order to specify how Lupatech may dispose of guarantors in the future.

Consents were needed from the holders of more than 50% of the outstanding bonds.

The consent solicitation began on Nov. 23 and ended at 5 p.m. ET on Dec. 13.

The consent fee is $1.25 per $1,000 principal amount of bonds.

The solicitation agent was Bank of America Merrill Lynch (646 855-3401 or 888 292-0070). The information agent was Global Bondholder Services Corp. (212 430-3774 or 866 807-2200).

Lupatech manufactures industrial materials and is based in Caxias do Sul, Brazil.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.