Amira Nature Foods Ltd Announces Offering of $225 Million Senior Secured Second Lien Notes and $35 Million Senior Secured Revolving Credit Facility
The Company intends to use the net proceeds from the offering to: support the development of its international operations, reduce short term debt, purchase land for its new manufacturing facility, general corporate purposes and to pay related fees and expenses. The Company expects the Revolving Credit Facility to remain undrawn at the time of closing of the sale of the Notes.
The Notes will be offered to qualified institutional buyers in
accordance with Rule 144A under the Securities Act of 1933, as amended
(the "Securities Act"), and to non-U.S. persons outside
The consummation of the proposed senior notes offering is subject to market and other conditions. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Founded in 1915, Amira has evolved into a leading global provider of
branded packaged Indian specialty rice, with sales in over 60 countries
today. The Company sells Basmati rice, which is a premium long-grain
rice grown only in certain regions of the Indian sub-continent, under
its flagship Amira brand as well as under other third party brands.
Amira sells its products through a broad distribution network in both
the developed and emerging markets. The Company’s global headquarters
Safe Harbor for Forward-Looking Statements
This press release contains statements of a forward-looking nature.
These statements are made under the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. You can identify these
forward-looking statements by words or phrases such as “may,” “will,”
“except,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,”
“is/are likely to,” “future” or other similar expressions. We have based
these forward-looking statements largely on our current expectations and
projections about future events and financial trends that we believe may
affect our financial condition, results of operations, business strategy
and financial needs. The forward-looking statements in this release
include statements regarding the offering of the Notes These
forward-looking statements include, but are not limited to: our goals
and strategies; our expansion plans; and our future business
development. We would like to caution you not to place undue reliance on
forward-looking statements and you should read these statements in
conjunction with the risk factors disclosed in “Risk Factors” appearing
in our Annual Report on Form 20-F as well as other public filings with
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