Banco Nacional de Desenvolvimento Economico e Social - BNDES Announces Results Of Tender Offers For Any And All Of Its 4.000% Notes Due 2019, 5.500% Notes Due 2020 And 5.750% Notes Due 2023

RIO DE JANEIRO, Nov. 23, 2015 /PRNewswire/ -- Banco Nacional de Desenvolvimento Economico e Social – BNDES, a wholly-owned federal government company in Brazil (the "Offeror") announced today the results of its tender offer to purchase for cash (i) any and all of its outstanding 4.000% Notes due 2019 (the "2019 Notes"), (ii) any and all of its outstanding 5.500% Notes due 2020 (the "2020 Notes"), and (iii) any and all of its outstanding 5.750% Notes due 2023 (the "2023 Notes" and, together with the 2019 Notes and the 2020 Notes, the "Notes") (the "Tender Offers"). 

The Tender Offers expired at 11:59 p.m., New York City time, on November 20, 2015.

The Offeror has been advised that an aggregate of:

• U.S.$159,347,000 principal amount of 2019 Notes, representing 15.93% of the 2019 Notes (including 2019 Notes held in treasury by BNDES and its affiliates);
• U.S.$169,824,000 principal amount of 2020 Notes, representing 16.98% of the 2020 Notes (including 2020 Notes held in treasury by BNDES and its affiliates); and
• U.S.$310,216,000 principal amount of 2023 Notes, representing 17.73% of the 2023 Notes (including 2023 Notes held in treasury by BNDES and its affiliates), were tendered.

These amounts include the amounts of Notes tendered in accordance with guaranteed delivery procedures. The Offeror is accepting for payment all Notes that were validly tendered and not subsequently withdrawn.

BNDES and its affiliates currently hold in treasury approximately U.S.$198,000,000 principal aggregate amount of 2019 Notes, approximately U.S.$196,000,000 principal aggregate amount of 2020 Notes and approximately U.S.$346,000,000 principal aggregate amount of 2023 Notes.

Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc. have been retained to act as dealer managers (the "Dealer Managers") in connection with the Tender Offers.  Questions regarding the Tender Offers may be directed to Deutsche Bank Securities Inc. at + 1 (855) 287 1922 (toll free) or + 1 (212) 250-7527 (collect) or HSBC Securities (USA) Inc. at (888) HSBC-4LM (toll free) or +1 (212) 525-5552 (collect).

The Tender Offers have been made pursuant to the offer to purchase dated November 16, 2015, the accompanying letter of transmittal and the accompanying notice of guaranteed delivery (together, the "Offer Documents"), which set forth in more detail the terms and conditions of the Tender Offers. Neither the Offer Documents nor any related documents have been filed with the U.S. Securities and Exchange Commission, nor have any such documents been filed with or reviewed by any federal or state securities commission or regulatory authority of any country. No authority has passed upon the accuracy or adequacy of the Offer Documents or any related documents, and it is unlawful and may be a criminal offense to make any representation to the contrary.

This announcement is not an offer to purchase or a solicitation of an offer to purchase.  The Tender Offers have been made solely by the Offeror pursuant to the Offer Documents.  The Tender Offers have not been made to, nor have the Offeror accepted tenders of Notes from, Holders in any jurisdiction in which the Tender Offers or the acceptance thereof would not be in compliance with the securities or blue sky laws of such jurisdiction.

Banco Nacional de Desenvolvimento Economico e Social – BNDES

NOTICE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains statements that are forward-looking within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are only predictions and are not guarantees of future performance. Investors are cautioned that any such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Offeror that may cause the actual results to be materially different from any future results expressed or implied in such forward-looking statements. Although the Offeror believes that the expectations and assumptions reflected in the forward-looking statements are reasonable based on information currently available, the Offeror cannot guarantee future results or events. The Offeror expressly disclaims a duty to update any of the forward-looking statements.

SOURCE Banco Nacional de Desenvolvimento Economico e Social