Braskem Netherlands Finance B.V. Announces Tender Offer Results
Today, Braskem Netherlands Finance B.V. ("Braskem Netherlands Finance" or the "Offeror") has announced significant updates concerning its cash tender offer for the outstanding Subordinated Resettable Fixed Rate Notes due 2081. This announcement pertains to the expiration and final results of the offer, reflecting the interest and participation from noteholders.
Details of the Tender Offer
The Company's offer was set to expire at 5:00 p.m. on the expiration date. The Offeror aimed to purchase any and all outstanding Subordinated Resettable Fixed Rate Notes as of the defined expiration date. This strategic move is part of Braskem's ongoing efforts to manage its liabilities efficiently.
As of the expiration date, Braskem Netherlands Finance received a wide range of valid tenders of the Notes from holders, generating substantial interest from noteholders who decided to take part in this opportunity.
Summary of Final Results
A summary detailing the results of this tender offer encapsulated the principal amounts tendered and their acceptance status. Notably, the Offeror reported that a significant portion of the Notes tendered after the early tender date was accepted, indicating positive market reception.
The table displaying the tender offer results highlights various categories including the total principal amount outstanding, the amount accepted, and the tender offer consideration amounting to US$966.25 for each US$1,000 principal amount. These results reflect the diligent efforts of Braskem Netherlands Finance to achieve favorable outcomes for its stakeholders.
Key Considerations for Noteholders
For holders of Notes who executed valid tenders but did not withdraw them post-early tender date, they are positioned to receive the tender offer consideration amount along with any accrued interest. This ensures participants stand to gain immediate financial benefits from their engagement in the tender offer.
Accrued interest will be calculated up to, but not including, the final settlement date, meaning it is crucial for all noteholders involved to understand the timing and financial implications of the tender offer.
About Braskem Netherlands Finance
Braskem Netherlands Finance, a subsidiary operating under Dutch law, is wholly owned by Braskem Netherlands B.V. This subsidiary primarily focuses on acting as a finance entity for Braskem S.A., thereby supporting the broader financial objectives of the organization.
Engagement and Support
Braskem has partnered with notable firms including Citigroup Global Markets Inc., Itau BBA USA Securities, Morgan Stanley & Co. LLC, and others to facilitate this tender offer. These relationships underscore the commitment to ensuring transparent and efficient processes for managing stakeholder interests.
For further inquiries regarding the tender offer process or any specific concerns, noteholders are encouraged to reach out to the designated dealer managers to receive personalized assistance. This ensures clarity and support for any questions that may arise.
Frequently Asked Questions
What is the nature of the tender offer by Braskem Netherlands Finance?
The tender offer is aimed at purchasing any and all outstanding Subordinated Resettable Fixed Rate Notes due 2081 for cash.
When did the tender offer expire?
The tender offer expired at 5:00 p.m. on the designated expiration date.
What consideration will noteholders receive?
Noteholders will receive US$966.25 for each US$1,000 principal amount of Notes tendered, plus any accrued interest.
Who can participate in the tender offer?
All holders of the Subordinated Resettable Fixed Rate Notes due 2081 are eligible to participate in the tender offer.
How can noteholders seek additional information about the tender offer?
Noteholders can contact Citigroup Global Markets Inc. or other dealer managers for inquiries and details regarding the tender offer.
