Business
STONECO LTD. ANNOUNCES ANY AND ALL CASH TENDER OFFER AND CONSENT SOLICITATION
GEORGE TOWN, Grand Cayman, July 1, 2024 /PRNewswire/ -- StoneCo Ltd. (Nasdaq: STNE, B3: STOC31) ("StoneCo" or the "Company") announces that it has commenced
About this update from Stoneco Ltd.
[{"type":"text","content":"GEORGE TOWN, Grand Cayman, July 1, 2024 /PRNewswire/ -- StoneCo Ltd. (Nasdaq: STNE, B3: STOC31) (\"StoneCo\" or the \"Company\") announces that it has commenced today a cash tender offer (the \"Tender Offer\") to purchase any and all of its outstanding 3.950% senior notes due 2028 (the \"Notes\"). Initially, the Notes are fully, unconditionally and irrevocably guaranteed by Stone Instituição de Pagamento S.A., MNLT S.A. and Pagar.me Instituição de Pagamento S.A.\n\nIn connection with the Tender Offer, the Company is also soliciting consents (the \"Consents\") from registered holders (each, a \"Holder\" and, collectively, the \"Holders\") of the Notes (the \"Consent Solicitation\") to proposed amendments to the indenture governing the Notes (the \"Indenture\"), providing for, among other things, the elimination of substantially all of the restrictive covenants, various events of default and related provisions contained in the Indenture, as well as allowing the Company to replace itself as principal debtor in respect to the Notes by a substituted debtor; provided that the Company (and all other existing guarantors) shall guarantee the payment of all sums payable by the substituted debtor as such principal debtor on the same terms mutatis mutandis as the Notes and subject to certain other conditions (the \"Proposed Amendments\").The Tender Offer and the Consent Solicitation are being made upon the terms and subject to the conditions set forth in an offer to purchase and consent solicitation statement dated July 1, 2024 (the \"Offer to Purchase and Consent Solicitation\"). Any capitalized term used but not defined in this press release has the respective meaning set forth in the Offer to Purchase and Consent Solicitation.\nThe following table summarizes the material pricing terms of the Tender Offer.\nNotes\nCUSIP and ISIN Numbers\nPrincipal Amount Outstanding\nTender Offer Consideration(1)\nEarly Tender Consideration(1)(2)\nTotal Consideration(1)(3)\n3.950% Senior Notes due 2028\nCUSIP: \n861787 AA7 / \nG85158 AA4\nISIN: US861787AA77 / USG85158AA43\nUS$500,000,000\nUS$850.00\nUS$30.00\nUS$880.00\n \n__________________\n(1)\nPer US$1,000 principal amount of Notes validly tendered (and not validly withdrawn) and accepted for purchase by us. Excludes Accrued Interest (as defined in the Offer to Purchase and Consent Solicitation) to be...