Arauco Announces The Results Of Its Exchange Offer For Its 3.875% Notes Due 2027 And Its 5.500% Notes Due 2047

SANTIAGO, Chile, June 12, 2018 /PRNewswire/ -- Celulosa Arauco y Constitución S.A. ("Arauco" or the "Company") today announced the expiration of its exchange offer (the "Exchange Offer") for any and all of its unregistered outstanding U.S.$500,000,000 3.875% Notes due 2027 (the "2027 Original Notes") for an equal principal amount of its new 3.875% Notes due 2027 (the "2027 Exchange Notes"), and for any and all of its unregistered outstanding U.S.$400,000,000 5.500% Notes due 2047 (the "2047 Original Notes", and together with the 2027 Original Notes, the "Original Notes") for an equal principal amount of its new 5.500% Notes due 2047 (the "2047 Exchange Notes", and together with the 2027 Exchange Notes, the "Exchange Notes"). The Exchange Notes have been registered under the Securities Act of 1933, as amended (the "Securities Act"). The Exchange Offer commenced on May 7, 2018, and expired at midnight, New York City time, on June 11, 2018.

Bank of New York Mellon, acting as exchange agent for the Exchange Offer, advised the Company that (i)  U.S.$466,890,000 of the U.S.$500,000,000 aggregate principal amount of the 2027 Original Notes have been validly tendered for exchange and not withdrawn, representing 93.3780% of the principal amount of the outstanding 2027 Original Notes, and (ii) U.S.$378,325,000 of the U.S.$400,000,000 aggregate principal amount of the 2047 Original Notes have been validly tendered for exchange and not withdrawn, representing 94.5813% of the principal amount of the outstanding 2047 Original Notes.

The Company has accepted for exchange all of the Original Notes validly tendered and not withdrawn and expects to deliver on June 15, 2018 an aggregate principal amount of approximately U.S.$466,890,000 of 2027 Exchange Notes and U.S.$378,325,000 of 2047 Exchange Notes.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the Exchange Notes or any other security and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any persons to whom, such an offer, solicitation or sale would be unlawful. The exchange offer was made only pursuant to the prospectus dated May 2018 and the related letter of transmittal and only to such persons and in such jurisdictions as is permitted under applicable law.

Copies of the exchange offer prospectus and related documents may be obtained from Bank of New York Mellon, the exchange agent for the exchange offer, at the following address:

c/o The Bank of New York Mellon Corporation
111 Sanders Creek Parkway
East Syracuse, NY 13057
Attention: Pamela Adamo
By Facsimile Transmission (for Eligible Institutions Only): 732-667-9408
Confirm by Telephone: 315-414-3317
Email: [email protected]

About Arauco

We are a corporation (sociedad anónima) organized under the laws of Chile. Our principal executive offices are located at Avenida El Golf 150, 14th Floor, Las Condes, Santiago, Chile. Our telephone number is +562-2461-7200, and our facsimile number is +562-2461-7541.

Forward-Looking Statements

Statements in this press release may be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to risks and uncertainties. Other than statements of historical fact, information regarding activities, events and developments that we expect or anticipate will or may occur in the future, including, but not limited to, information relating to our future growth and profitability targets and strategies designed to increase total shareholder value, are forward-looking statements based on management's estimates, assumptions and projections. Forward-looking statements also include, but are not limited to, statements regarding our future economic and financial condition and results of operations, the plans and objectives of management and our assumptions regarding our performance and such plans and objectives. Many forward-looking statements may be identified by the use of words such as "intend," "believe," "expect," "anticipate," "should," "planned," "projected," "estimated" and "potential," among others. Forward-looking statements contained in this press release are predictions only and actual results could differ materially from management's expectations due to a variety of factors, including those described the section titled "Risk Factors" in our Annual Report on Form 20-F. All forward-looking statements attributable to us or persons working on our behalf are expressly qualified in their entirety by such risk factors. The forward-looking statements that we make in this press release are based on management's current views and assumptions regarding future events and speak only as of their dates. We assume no obligation to update developments of these risk factors or to announce publicly any revisions to any of the forward-looking statements that we make, or to make corrections to reflect future events or developments, except as required by the federal securities laws.

SOURCE Celulosa Arauco y Constitucion S.A.