Chicago, Feb. 4 – Tupy SA wholly owned subsidiary Tupy Overseas SA sold $375 million of 4˝% notes due 2031 (BB/BB), according to a company announcement.
The notes are being guaranteed by the parent.
Morgan Stanley, Citigroup, Itau BBA, JPMorgan, Santander and UBS Investment Bank are the lead managers and bookrunners.
Proceeds will be used to fund a tender offer for the company’s 6 5/8% senior notes due 2024, as previously reported. Proceeds will also be used for general corporate purposes and expenses related to the issue.
The notes were distributed through Rule 144A and Regulation S.
Tupy is an automotive parts manufacturer based in Santa Catarina, Brazil.
| Issuer: | Tupy Overseas SA
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| Guarantor: | Tupy SA
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| Amount: | $375 million
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| Securities: | Notes
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| Maturity: | 2031
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| Bookrunners: | Morgan Stanley, Citigroup, Itau BBA, JPMorgan, Santander and UBS Investment Bank
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| Coupon: | 4˝%
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| Pricing date: | Feb. 1
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| Settlement date: | Feb. 4
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| Ratings: | S&P: BB
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| Fitch: BB
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| Distribution: | Rule 144A and Regulation S
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