Braskem Finance Limited Announces Expiration and Receipt of Required Consents in Consent Solicitation for Each of its 7.25% Notes Due 2018, 7.00% Notes Due 2020, 5.75% Notes Due 2021 and 7.375% Perpetual Bonds

SAO PAULO, April 16, 2012 /PRNewswire/ -- Braskem Finance Limited ("Braskem Finance"), a financing subsidiary of Braskem S.A. ("Braskem"), announced today that it has received the required consents to implement certain proposed amendments (with respect to each series of Securities (as defined below), the "Proposed Amendments") to the indentures governing each series of Securities (with respect to each series of Securities, an "Indenture" and, collectively, the "Indentures"), with respect to its previously announced solicitations of consents from the holders of its 7.25% Notes due 2018 (the "2018 Notes"), 7.00% Notes due 2020 (the "2020 Notes"), 5.75% Notes due 2021 (the "2021 Notes") and 7.375% Perpetual Bonds (together with the 2018 Notes, the 2020 Notes and the 2021 Notes, the "Securities") (with respect to each series of Securities, a "Consent Solicitation" and, collectively, the "Consent Solicitations").  Each Consent Solicitation expired at 5:00 p.m. (New York City time) on April 16, 2012 (the "Expiration Time").

As of the Expiration Time, Braskem Finance received consents with respect to more than a majority of the aggregate principal amount of each series of Securities (not including any Securities that are owned by Braskem or any of its affiliates). Accordingly, Braskem Finance has entered into a supplemental indenture to each Indenture containing the applicable Proposed Amendments. Braskem Finance will remit payment for each of the Consent Solicitations to the Tabulation Agent within five business days of the Expiration Time.   

The Information Agent for each Consent Solicitation was:

D.F. King & Co., Inc.

Banks and Brokers call: +1 (212) 269-5550 (collect)

All others call toll-free: +1 (800) 758-5378

E-mail: braskem@dfking.com

The Solicitation Agents for each Consent Solicitation were: Citigroup at +1 (212) 723-6108 (collect) or +1 (800) 558-3745 (toll-free); Deutsche Bank Securities Inc. at +1 (212) 250-2955 (collect) or +1 (866) 627-0391 (toll-free); and BB Securities Ltd. at + (44) 207 367 5832 (collect).

THIS PRESS RELEASE IS NEITHER AN OFFER TO SELL NOR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITY.  THIS ANNOUNCEMENT IS ALSO NOT A SOLICITATION OF CONSENTS TO ANY PROPOSED AMENDMENTS. 

SOURCE Braskem S.A.



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