US EditionSAMARCO COMMENCES MODIFIED DUTCH AUCTION CASH TENDER OFFER FOR 9.000% SENIOR NOTES DUE 2031 IN AN AGGREGATE PURCHASE PRICE OF UP TO U.S.$34,081,041.43
- On May 12, 2025, Samarco Mineração S.A. Launched a modified Dutch auction cash tender offer aiming to repurchase up to US$34,081,041.43 in aggregate principal amount of its senior notes bearing a 9.000% coupon, maturing in 2031.
- The offer requires holders to specify a minimum bid price within an acceptable range, and notes will be accepted from lowest to highest bids until the maximum purchase amount is reached or exceeded.
- The clearing price is defined as the single lowest bid price at which the total value of accepted notes reaches the maximum payment limit. Samarco will disclose this clearing price along with the proration factor on https://www.gbsc-usa.com/samarco prior to settlement.
- The principal amount outstanding has increased since issuance on December 1, 2023, due to capitalized accrued interest paid at 9.049% per annum, known as payment-in-kind interest, and the bid price includes this accrued interest per US$1,000 note.
- Assuming conditions are met, Samarco may purchase tendered notes at or before the early or final expiration dates, subject to the terms of the indenture and possible adjustments for Brazilian taxes, while holders must independently decide whether and at what price to tender.
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SAMARCO COMMENCES MODIFIED DUTCH AUCTION CASH TENDER OFFER FOR 9.000% SENIOR NOTES DUE 2031 IN AN AGGREGATE PURCHASE PRICE OF UP TO U.S.$34,081,041.43
BELO HORIZONTE, Brazil, May 12, 2025 /PRNewswire/ -- Samarco Mineração S.A. – Em Recuperação Judicial ("Samarco", the "Issuer", "we", "us" and "our") announces that it has commenced a cash tender offer (the "Tender Offer") for its 9.000% senior notes due…
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