Banco BTG Pactual S.A. announces that the Supplemental Indenture in relation to its 8.750% Perpetual Non‑Cumulative Junior Subordinated Notes has become operative

SAO PAULO, March 1, 2019 /PRNewswire/ -- Banco BTG Pactual S.A., a sociedade por ações incorporated in the Federative Republic of Brazil (the "Company") hereby announces that the substitution of the branch through which the Company acts as issuer of its 8.750% Perpetual Non-Cumulative Junior Subordinated Notes (144A Note CUSIP: 05952VAA6 and Regulation S Note CUSIP: P0779LAA3) (the "Notes") from the Company's Luxembourg Branch to the Company's Cayman Islands Branch has become operative (the "Branch Substitution"). 

As announced on January 29, 2019, the Company obtained the consent to the Branch Substitution from eligible holders of a majority of the outstanding principal amount of Notes through a consent solicitation process. The Branch Substitution was effected pursuant to a first supplemental indenture dated as of January 29, 2019 that supplements the indenture governing the Notes dated as of September 18, 2014  (the "First Supplemental Indenture"). While the First Supplemental Indenture was binding on the parties upon execution, the First Supplemental Indenture only became operative upon the approval of the Central Bank of Brazil (Banco Central do Brasil) (the "Central Bank"), among other customary conditions. The Company received the approval of the Central Bank on February 28, 2019 and the Branch Substitution became operative as of March 1, 2019.

The Branch Substitution was made in the context of management's reevaluation of the activities currently undertaken by each branch. The Company will remain the ultimate obligor under the Notes, with the only change being through which branch it is acting in such capacity.

Cautionary Note Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Exchange Act of 1934, as amended, which statements may be identified by the use of forward-looking terminology, such as "may," "will," "expect," "anticipate," "estimate," "plans" or "continue" or the negative thereof or other variations thereon or comparable terminology referring to future events or results. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors.

About Banco BTG Pactual S.A.

The Company is a Latin American multi-service investment bank, asset manager and wealth manager. In addition, the Company has established a successful global asset management platform, along with strong international investment and distribution capabilities. The Company was founded in 1983 and has operated as a meritocratic partnership since its inception. Currently, the Company has local coverage offices across Latin America, including in Brazil, Chile, Colombia, Mexico and Argentina, and has an international presence focused on distribution of a wide variety of banking products in Latin America and managing global clients' funds in New York and London. Through this platform, the Company provides a comprehensive range of financial services to a Latin American and global client base that includes corporations, institutional investors, governments and high net worth individuals.

SOURCE Banco BTG Pactual S.A.