Falabella S.A. Announces Issue and Sale of $650 Million of Senior Notes
October 12, 2021 at 10:47 pm EDT
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Falabella S.A. announced that it has priced its offering of $650,000,000 aggregate principal amount of its 3.375% senior notes due 2032 (the "Notes"). The Notes Offering is expected to close on or around October 15, 2021, subject to customary closing conditions. Falabella intends to apply a portion of the net proceeds of the Notes Offering to the purchase its 3.750% Senior Notes due 2023 (the "2023 Notes") and certain of its 4.375% Senior Notes due 2025 (the "2025 Notes") that are validly tendered and accepted in Falabella's cash tender offers, which were announced on October 4, 2021 (the "Tender Offers"). The Tender Offers are subject to certain conditions, as set in the offers to purchase with respect to each of the 2023 Notes (the "2023 Notes Offer to Purchase") and the 2025 Notes (the "2025 Notes Offer to Purchase," and together with the 2023 Notes Offer to Purchase, the "Offer Documents"). These conditions include, but are not limited to, the pricing and closing of the Notes Offering and the receipt by the Company of sufficient proceeds therefrom to allow to finance the purchase of the notes validly tendered and accepted pursuant to the Tender Offers. The Notes Offering is not conditioned on the successful consummation of the Tender Offers. The Notes are being offered and sold to qualified institutional buyers in the United States in accordance with Rule 144A under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and to persons outside the United States in accordance with Regulation S under the Securities Act. The Notes have not been and will not be registered under the Securities Act or any state's or other jurisdiction's securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions' securities laws.
Falabella SA, formerly SACI Falabella, is a Chile-based company managing an online and offline retail platform. It operates seven business segments: Department Stores, Home Improvement, Supermarkets, Promotora CMR, Real Estate, Banking Business and Other Businesses. Department Stores sales, under the Falabella brand, a range of products, including retail sales of clothing, accessories and products for the home, electronics, beauty products and others. Home Improvement sales, under the Sodimac brand, building and home improvement products, including building materials, hardware, tools, and accessories for kitchen, bathroom, garden and decoration, among others. Supermarkets manages hypermarkets and supermarkets under the Tottus brand. Promotora CMR provides the CMR credit card. Real Estate operates constructing and leasing malls. Banking Business covers all banking activities. Other Businesses includes all the other activities. The Company operates in Latin America.