SAO PAULO, July 16, 2015 /PRNewswire/ -- Tonon Bioenergia S.A. (the "Company") announced today that its wholly-owned subsidiary Tonon Luxembourg S.A. has completed the final settlement of its offer to exchange any and all of its outstanding U.S.$300,000,000 9.250% Senior Notes due 2020 (the "Existing Notes") for new Step-Up Senior Notes due 2020 (the "New Notes") that launched on June 13, 2015 (the "Exchange Offer"). As of the final settlement date, U.S.$289,160,000, or 96.4%, of the outstanding aggregate principal amount of the Existing Notes had been validly tendered and accepted by the Company and exchanged for New Notes. As previously announced, the Company also completed a new U.S.$70.0 million financing from certain institutional investors to repay short-term indebtedness and for general corporate purposes.
"The successful completion of this debt restructuring stabilizes our capital structure and provides us the liquidity necessary to now move our company forward. The restructuring also demonstrates the continued confidence of sophisticated institutional investors in Tonon's management team and business model," said Rodrigo Caldas de Toledo Aguiar, Chief Executive Officer of Tonon Bioenergia.
Tonon was advised in connection with these transactions by Blackstone Advisory Partners L.P., Davis Polk & Wardwell LLP and Felsberg Advogados.
About Tonon Bioenergia S.A.
Tonon Bioenergia is a Brazilian sugar, ethanol and energy producer with operations in the southeast and midwest regions of Brazil. We are headquartered in the state of Sao Paulo, Brazil, and operates three mills in Bocaina, in the state of Sao Paulo, Maracaju, in the state of Mato Grosso do Sul and Brotas, in the state of Sao Paulo. Additional information about our company is available on its website at www.tononbioenergia.com.br.
In this press release, all statements that are not purely historical facts are 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. Forward-looking statements may be identified by the words "believe," "expect," "anticipate," "project," "plan," "estimate," "intend" and similar expressions. Forward-looking statements are based on currently available business, economic, financial and other information and reflect management's current beliefs, expectations and views with respect to future developments and their potential effects on the company. Actual results could vary materially depending on risks and uncertainties that may affect us and our business. We assume no obligation to update any forward-looking statement made in this press release to reflect subsequent events or circumstances or actual outcomes.
SOURCE Tonon Bioenergia S.A.