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Financial News: MINERVA: Subsidiary To Issue US$ 500 Million In

MINERVA: Subsidiary To Issue US$ 500 Million In 2028 Notes

12/06/2017 - 15:40:00 (RTTNews)

(RTTNews) - Minerva Luxembourg, Minerva's subsidiary, will issue US$ 500 million in debt securities maturing in 2028, with a 5.875% yearly coupon, guaranteed by the parent company.

In a statement, Minerva said that the demand verified in the procedure of pricing the notes was four times higher than the total amount offered. The subsidiary intends to use the money raised in the securities' offering to repurchase outstanding notes due in 2023 and to pay for existing short-term debt.

The company also informed that the amount to be paid to HSBC Securities (USA) Inc. by Minerva Luxembourg in exchange for notes due in 2023, the part of a repurchase offer, will be deducted from the net proceeds received by the new issuance.

The new securities will be offered and sold only to qualified institutional investors, resident and domiciled in the United States, based on the regulations issued by the Securities and Exchange Commission (SEC), Rule 144A, and in other countries except Brazil and the United States based on "Regulation S."

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