Hypermarcas SA, the largest Brazilian producer of generic drugs and beauty care products, plans to repurchase 40 percent, or $300 million, of the $750 million in outstanding global bonds due in 2021, in a bid to reduce debt. The São Paulo-based company will offer a $67.50 premium and a $30 early participation fee to investors per every $1,000 worth of the notes tendered, according to a statement. Holders of the notes who tender the 6.5 percent bond after the early tender period expires at 5 p.m. New York time on Nov. 8 but before the expiration date will not be entitled to receive the fee, the statement added.
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