Embraer S.A. Announces Early Results of Cash Tender Offer and Change in Maximum Tender Amount

Rhea-AI Summary

Embraer announced early results for its cash Tender Offer to purchase 5.150% senior unsecured notes due 2022 and senior unsecured guaranteed notes due 2023. The Maximum Tender Amount for the 2022 Notes was reduced from US$150 million to US$59,927,604, while the 2023 Notes increased from US$150 million to US$240,043,650. Both series reached the maximum amount accepted, and the Tender Offer will conclude on March 10, 2022. Payment for early tendered notes is scheduled for March 1, 2022.

Positive

• Embraer accepted US$59,217,000 of 2022 Notes out of US$59,217,000 tendered.
• Embraer accepted US$228,613,000 of 2023 Notes out of US$228,613,000 tendered.

Negative

• Reduction of Maximum Tender Amount for the 2022 Notes from US$150 million to US$59,927,604.

SÃO PAULO, Feb. 24, 2022 /PRNewswire/ -- Embraer S.A. ("Embraer") (NYSE: ERJ) informed today the early results of the previously announced offer (the "Tender Offer") to purchase for cash outstanding 5.150% senior unsecured notes due 2022 issued by Embraer (the "2022 Notes") and senior unsecured guaranteed notes due 2023, issued by Embraer Overseas Limited and fully, unconditionally and irrevocably guaranteed by Embraer (the "2023 Notes" and, together with the 2022 Notes, the "Notes"), subject to certain terms and conditions set forth in the Offer to Purchase (as defined below).

Additionally, Embraer has amended the Maximum Tender Amount as follows: (i) for the 2022 Notes from an amount representing up to US$150,000,000 to up to US$59,927,604 in aggregate consideration and (ii) for the 2023 Notes from an amount representing up to US$150,000,000 to up to US$240,043,650 in aggregate consideration. Except for the change with respect to the Maximum Tender Amount, there are no other modifications being made with respect to the Tender Offer. The complete terms and conditions of the Tender Offer are set forth in the offer to purchase dated February 10, 2022, as amended with respect to the Maximum Tender Amount by this press release (the "Offer to Purchase").

The following table sets forth certain information regarding each series of the Notes and the Tender Offer, including the aggregate principal amount of the Notes validly tendered (and not validly withdrawn) as of the Early Tender Date, according to D.F. King & Co., Inc., the tender agent and information agent for the Tender Offer (the "Tender Agent and Information Agent"):

Title of Security		CUSIP/ISIN		Aggregate Principal Amount Tendered		Aggregate Principal Amount Accepted for Purchase		Total Consideration(1)
5.150% Senior Unsecured Notes due 2022		29082AAA5 /  US29082AAA51		US$59,217,000		US$59,217,000		US$1,012.00
5.696% Senior Unsecured Guaranteed Notes due 2023		Rule 144A: 29081YAD8 / US29081YAD85 Regulation S: G30376AB6 / USG30376AB69		US$228,613,000		US$228,613,000		US$1,050.00

________________
(1)	The amount to be paid for each US$1,000 principal amount of Notes validly tendered prior to the Early Tender Date and accepted for purchase. The Total Consideration includes an Early Tender Payment of US$30.00 for each US$1,000 principal amount of Notes. Does not include Accrued Interest (as defined in the Offer to Purchase), which will be paid in addition to the Total Consideration.

Withdrawal rights with respect to the Tender Offer expired at 5:00 p.m., New York City time, on February 24, 2022 (the "Early Tender Date").

The Tender Offer will expire at 11:59 p.m., New York City time, on March 10, 2022, unless extended by Embraer. Since the aggregate principal amount of each series of Notes validly tendered (and not validly withdrawn) as of the Early Tender Date reached the Maximum Tender Amount, Embraer will not accept for purchase any Notes tendered after the Early Tender Date.

Pursuant to the terms of the Tender Offer, Embraer will pay for the early tendered Notes accepted for purchase on March 1, 2022.

Embraer reserves the absolute right to amend or terminate the Tender Offer in its sole discretion, subject to disclosure and other requirements under applicable law.

Embraer has engaged Banco Bradesco BBI S.A., Itau BBA USA Securities, Inc., Morgan Stanley & Co. LLC, Natixis Securities Americas LLC and Santander Investment Securities Inc. to act as the dealer managers (the "Dealer Managers") in connection with the Tender Offer. Questions regarding the terms of the Tender Offer may be directed to Banco Bradesco BBI S.A. at +1 (646) 432-6642, Itau BBA USA Securities, Inc. at +1 (888) 770-4828 (toll free) or +1 (212) 710-6749 (collect), Morgan Stanley & Co. LLC at +1 (800) 624-1808 (toll free) or +1 (212) 761-1057 (collect), Natixis Securities Americas LLC at +1 (212) 891-6100 and Santander Investment Securities Inc. at +1 (855) 404-3636 (toll free) or +1 (212) 940-1442 (collect).

Disclaimer

None of Embraer, the Dealer Managers, the Tender and Information Agent, the trustee for the Notes or any of their respective affiliates is making any recommendation as to whether holders should or should not tender any Notes in response to the Tender Offer or expressing any opinion as to whether the terms of the Tender Offer are fair to any holder. Holders of the Notes must make their own decision as to whether to tender any of their Notes and, if so, the principal amount of Notes to tender. Please refer to the Offer to Purchase for a description of the offer terms, conditions, disclaimers and other information applicable to the Tender Offer.

This press release is for informational purposes only and does not constitute an offer to purchase or the solicitation of an offer to sell any securities. The Tender Offer is being made solely by means of the Offer to Purchase. Embraer is making the Tender Offer only in those jurisdictions where it is legal to do so. The Tender Offer is not being made to holders of the Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In those jurisdictions where the securities, blue sky or other laws require any tender offer to be made by a licensed broker or dealer, the Tender Offer will be deemed to be made on behalf of Embraer by the Dealer Managers or one or more registered brokers or dealers licensed under the laws of such jurisdiction.

This press release may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, including those related to the Tender Offer. Forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and, accordingly, such results may differ from those expressed in any forward-looking statements.

Embraer S.A.

Antonio Carlos Garcia
Head of Investor Relations
+55 (11) 3040-6874

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SOURCE Embraer S.A.

FAQ

What is the Tender Offer amount for Embraer (ERJ) notes?

The Maximum Tender Amount for the 2022 Notes was reduced to US$59,927,604, while the amount for the 2023 Notes is US$240,043,650.

When does the Tender Offer for Embraer (ERJ) expire?

The Tender Offer will expire on March 10, 2022.

What are the early tender payment dates for Embraer (ERJ) notes?

Payment for early tendered notes accepted for purchase is scheduled for March 1, 2022.

What are the accepted amounts for Embraer (ERJ) notes in the Tender Offer?

Embraer accepted US$59,217,000 for the 2022 Notes and US$228,613,000 for the 2023 Notes.