Tonon Bioenergia said Thursday its wholly own subsidiary Tonon Luxembourg has completed the final settlement to exchange all of its outstanding senior notes for new notes.
According to the settlement, approximately 96 percent of the existing notes at approximately $290 million U.S. have been tendered and accepted by Tonon Bioenergia.
Tonon Bioenergia is a Brazilian sugar, ethanol and energy producer with operations in the southeast and midwest regions of Brazil. Tonon was advised in these transactions by Blackstone Advisory Partners, L.P., Davis Polk & Wardwell, LLP and Felsberg Advogados.
"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,"
Tonon Bioenergia CEO Rodrigo Caldas de Toledo Aguiar said.
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