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Brazil’s Tonon solicits consents for $230 million of notes units
By Jennifer Chiou
New York, June 13 – Tonon Bioenergia SA subsidiary Tonon Luxembourg SA announced that it is soliciting consents from holders of $230 million of notes units, which consist of the following:
• $73 million of 10½% tranche 1 senior secured notes due 2024;
• $96 million of 10½% tranche 2 senior secured notes due 2024;
• $32 million of 10½% tranche 3 senior secured notes due 2024; and
• $29 million of 10½% tranche 4 senior secured notes due 2024.
The solicitation will end at 5 p.m. ET on June 19.
The proposed amendments include, among other things, changing the definition of “existing financing documents” to replace one of the listed financing agreements, modifying the definition of “existing security documents,” amending the tranche 3 rural pledge agreement and extending the deadline by which the company must deliver an officer’s certificate to the trustee to release obligations and liens under existing financing documents.
Tonon is offering a consent payment of $2.50 per $1,000 principal amount of notes.
Morgan Stanley is the solicitation agent (800 624-1808 or call collect 212 761-1057), and D.F. King & Co., Inc. is the information agent (800 758-5880 or call collect 212 269-5550; tonon@dfking.com).
Tonon is one of the leading sugar and ethanol producers in Brazil.
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