RIO DE JANEIRO, Brazil, Jan. 21 /PRNewswire-FirstCall/ -- BR Malls Participacoes S.A. ("BRMalls") today announced that its wholly owned finance subsidiary, BR Malls International Finance Limited ("Issuer"), is terminating the cash tender offer for up to a maximum of US$72,000,000 aggregate principal amount of the Issuer's 9.75% Perpetual Notes (the "Notes") at a purchase price per US$1,000 principal amount determined in accordance with the procedures of a modified "Dutch Auction", which tender offer was launched on November 25, 2008 (the "Tender Offer").
The expiration date for the Tender Offer is January 21, 2009, and certain conditions described in the Offer to Purchase were not met. Pursuant to the terms of the Tender Offer, the Issuer will not accept for purchase any tendered Notes and will instruct the depositary to promptly return Notes deposited by or on behalf of holders of Notes.
About BRMalls Participacoes S.A. and BRMalls International Finance Limited
BRMALLS (BOVESPA: BRML3), the largest integrated shopping mall company in Brazil, has a portfolio of 34 malls, comprising 985,200 square meters of gross leasable area ("GLA") and 429,100 square meters of owned GLA. BRMALLS is the only shopping mall company in Brazil with a nationwide presence that caters to all income segments. BRMALLS retains interest in 23 of the 26 malls in which it provides management and leasing services, with total GLA of 720,000 square meters. Its wholly owned finance subsidiary BRMalls International Finance Limited, was formed in 2007 to engage in financing transactions involving BRMALLS and its subsidiaries.
