Agribusiness and food company Bunge Ltd. on Sept. 10 priced its previously announced cash tender offer for its $600 million 8.50% senior notes due 2019.
As of the expiration date on Sept. 10, $283.5 million aggregate principal amount of the 2019 notes were validly tendered. Holders who validly tendered their notes are eligible to receive $1,041.55 per $1,000 principal amount.
The company said it expects to accept for payment all 2019 notes validly tendered and not withdrawn on Sept. 11. It also plans to pay for the 2019 notes on the same day. The 2019 notes not tendered in the offer will remain outstanding.
New York-based Bunge recently launched a public offering of $600 million aggregate principal amount of its 4.35% senior notes due 2024 to fund the cash tender offer.
SMBC Nikko Securities America Inc. acted as the company's dealer-manager in the offering, while HSBC Securities (USA) Inc. acted as the co-dealer-manager.