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SÃO PAULO, Nov. 5, 2024 /PRNewswire/ — Braskem Netherlands Finance B.V. (referred to as “Braskem Netherlands Finance” or the “Offeror”) has announced the conclusion of its tender offer for the outstanding Subordinated Resettable Fixed Rate Notes due 2081 (the “Notes”). The announcement came as of 5:00 p.m. New York City time on November 5, 2024, marking the expiration of the offer. This action follows the Offeror’s intention to purchase all outstanding Notes issued by Braskem Netherlands Finance, as detailed in a prior announcement dated October 7, 2024 (the “Offer to Purchase”). Notably, on October 21, 2024, the Offeror previously disclosed the early results of this offer.
According to information received from the information and tender agent, valid tenders of Notes were accepted after the early tender period, which concluded at the same time on October 21, 2024. Details regarding the valid Notes tendered are summarized in the table below.
Final Results Summary of the Offer
| Title of Security | Security Identifiers | Principal Amount Outstanding Prior to the Offer | Principal Amount Outstanding After the Early Settlement Date | Principal Amount Tendered and Accepted Between the Early Tender Date and the Expiration Date | Tender Offer Consideration |
|---|---|---|---|---|---|
| Subordinated Resettable Fixed Rate Notes due 2081 | CUSIP: 10554T AF2 / N15516 AF9 ISIN: US10554TAF21 / USN15516AF97 |
US$600,000,000 | US$231,436,000 | US$300,000 | US$966.25 |
On October 22, 2024, known as the “Early Settlement Date,” the Offeror completed the purchase of US$368,564,000 in aggregate principal amount of the Notes. Those holders who submitted valid tenders by the Early Tender Date received a total of US$1,016.25 per US$1,000 principal amount of accepted Notes, which included a Tender Offer Consideration of US$966.25 and an early tender premium of US$50.00, along with accrued interest. For Notes tendered after the Early Tender Date but before the Expiration Date, the consideration will also include accrued interest, amounting to US$966.25 for each US$1,000 principal amount.
Investors whose tendered Notes are accepted as of the Expiration Date will be compensated for accrued and unpaid interest leading up to the Final Settlement Date. This Final Settlement Date is scheduled for November 6, 2024, or as soon thereafter as practicable. Notably, the period for holders to withdraw their tenders has closed, meaning no further revocations are allowed unless mandated by applicable law.
Braskem has engaged several entities as dealer managers, including Citigroup Global Markets Inc., Itau BBA USA Securities, and Morgan Stanley & Co. LLC, among others, to facilitate the offer. Interested Note holders are encouraged to review the Offer to Purchase for comprehensive information on the tender offer process.
This announcement does not constitute a solicitation or offer to purchase securities in any jurisdiction that prohibits such an offer, and the Offer is contingent upon compliance with local laws and regulations. Furthermore, the Offeror and its affiliates have not provided any recommendations regarding whether holders should participate in this offer.
About Braskem Netherlands Finance
Braskem Netherlands Finance is a private company established in the Netherlands, functioning as a wholly-owned subsidiary of Braskem Netherlands B.V., primarily serving as a financial arm of Braskem S.A.
Forward-Looking Statements
Any statements made in this press release that are not historical facts may constitute “forward-looking statements” as defined under U.S. securities law, which are inherently subject to uncertainty. Although such statements are based on management’s current expectations and projections, actual outcomes may vary significantly due to various factors, including those listed in Braskem’s SEC filings.
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