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Actionable news in BK: BANK OF NEW YORK MELLON CORPORATION,

U.S.J. — Açúcar e Álcool S.A. Announces Extension Of The Exchange Offer And Consent Solicitation For Any And All Of Its 9.875% Senior Notes Due 2019

SAO PAULO, May 15, 2016 /PRNewswire/ -- U.S.J. – Açúcar e Álcool S.A. (the "Company") announced today that it has extended its previously announced private offer to exchange ()Exchange Offer") any and all of its outstanding 9.875% Senior Notes due 2019 ()Existing Notes") for its newly issued 9.875%/12.00% Senior Secured PIK Toggle Notes due 2021 ()New Notes") and its concurrent solicitation of consents ()Consent Solicitation" and, together with the Exchange Offer, the "Offer") to certain proposed amendments ()Proposed Amendments") to the indenture dated as of November 9, 2012, by and among the Company, the guarantor party thereto and The Bank of New York Mellon (the "Existing Notes Trustee"), as trustee, and The Bank of New York Mellon (Ireland) Limited, as Irish paying agent, pursuant to which the Existing Notes were issued (the "Existing Notes Indenture").

In order to allow sufficient time to conclude the process of registration and perfection of the collateral securing the New Notes, the Offer is being extended and will now expire at 5:00 p.m., New York City time, on May 16, 2016, unless further extended by the Company (such time and date, as the same may be extended, the "Expiration Date"). The Offer was previously scheduled to expire at 11:59 p.m., New York City time, on May 13, 2016. As of 5:00 p.m., New York City time, on May 13, 2016, Eligible Holders (as defined below) had validly tendered and delivered consents with respect to U.S.$245,696,000 in aggregate principal amount of the Existing Notes, representing 89.34% in aggregate principal amount of the outstanding Existing Notes.

The Company may, and currently intends to, waive the 90% minimum participation condition for consummation of the Offer. In addition, the Company has waived the condition to the Offer that Eligible Holders must deliver documentation consenting to an extrajudicial restructuring plan in order for their tender of...


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