December 8, 2017 |
Brazil's Andrade Gutierrez said it has finished its tender offer, accepting $78.7m of the $165.9m it received in 4% 2018 bonds. In total, the company had $500m in 2018 securities.
The engineering and construction firm agreed to exceed its $75m tender cap to accommodate an additional $3.7m.
Bondholders, which tendered their notes before the early deadline received $960 for every $1,000 exchanged in principal. The company only accepted the notes tendered prior to the early deadline.
Brazilian engineer accepts near $79m in 2018 bonds, despite bondholders offering up to $166m