Sao Paulo, Brazil, 29 September 2010 -- /PRNewswire/ -- Votorantim Participacoes S.A. announced today that, with respect to the previously announced consent solicitation by Voto—Votorantim Overseas Trading Operations III Limited (Voto III), a financing subsidiary of Votorantim, Voto III received the requisite consents from the holders of Voto III's 7.875% notes due 2014 to implement the proposed amendments (as defined below).
Voto III solicited consents from holders of the notes to, among other things, substantially conform certain provisions in the indenture governing the notes to the corresponding provisions in the indenture, dated as of 05 April 2010, governing Voto—Votorantim Limited's USD 750 million 6.75% senior notes due 2021 and the indenture, dated as of 28 April 2010, governing Voto—Votorantim Limited's EUR 750 million 5.25% senior notes due 2017 (the proposed amendments). The proposed amendments also allow Voto III to be substituted as the issuer of the notes upon the satisfaction of certain conditions.
Votorantim, an investment grade company, is one of the largest privately held conglomerates in Latin America. Votorantim is among the market leaders in each of its main business segments: cement; non-ferrous metals; pulp and paper; and financial services; and has important steel, agribusiness, chemicals, and energy operations. Its participation in the pulp and paper and financial services segments is through companies that it jointly controls.