Celulosa Arauco y Constitución S.A. Announces Expiration Of Tender Offers For 7.250% Notes Due 2019, 5.000% Notes Due 2021 And 4.750% Notes Due 2022

SANTIAGO, Chile, Nov. 9, 2017 /PRNewswire/ -- Celulosa Arauco y Constitución S.A. ("Arauco") announced today that its previously announced cash tender offers (the "Tender Offers") for up to (a) U.S.$296,824,000 principal amount (the "2019 Notes Tender Cap") of Arauco's outstanding 7.250% Notes due 2019 (the "2019 Notes"), (b) U.S.$200,000,000 principal amount of Arauco's outstanding 5.000% Notes due 2021 (the "2021 Notes") and (c) U.S.$250,000,000 principal amount of Arauco's outstanding 4.750% Notes due 2022 (the "2022 Notes" and, together with the 2019 Notes and the 2021 Notes, the "Notes") expired at 11:59 p.m., New York City time, on November 8, 2017 (the "Expiration Date").

The Tender Offers were made pursuant to an offer to purchase dated October 12, 2017, as amended (the "Offer to Purchase") and the related letter of transmittal (the "Letter of Transmittal"), which set forth the terms of the Tender Offers. The following table sets forth certain information relating to the Tender Offers:

As set forth in the table below, as of the Expiration Date, according to information provided by Global Bondholder Services Corporation, a total of (i) U.S.$297,174,000 aggregate principal amount of the 2019 Notes, (ii) U.S.$199,739,000 aggregate principal amount of the 2021 Notes and (iii) U.S.$244,145,000 aggregate principal amount of the 2022 Notes had been validly tendered and not validly withdrawn.

On the Early Settlement Date on November 2, 2007, Arauco purchased for cash U.S.$296,824,000 aggregate principal amount of the 2019 Notes, U.S.$199,639,000 aggregate principal amount of the 2021 Notes and U.S.$244,060,000 aggregate principal amount of the 2022 Notes. The Notes that have been validly tendered and not withdrawn after the early tender date (which occurred on October 25, 2017) and at or prior to the Expiration Date are expected to be purchased, retired and cancelled on the final settlement date, which is expected to be on November 13, 2017, the third business day after the Expiration Date (the "Final Settlement Date"), subject to the terms and conditions described in the Offer to Purchase. To do so with respect to the 2019 Notes, Arauco hereby increases the 2019 Notes Tender Cap from U.S.$296,824,000 to U.S.$297,174,000. Holders of such Notes accepted for purchase will be entitled to receive only the Total Consideration minus the Early Tender Payment, in addition to accrued and unpaid interest on such Notes validly tendered and accepted for purchase from the applicable last interest payment date up to, but not including, the Final Settlement Date.

This press release shall not constitute an offer to purchase or a solicitation of acceptance of the offer to purchase, which were made only pursuant to the terms and conditions contained in the Offer to Purchase and the related Letter of Transmittal.

For additional information regarding the terms of the Tender Offers, please contact the dealer managers for the Tender Offers, J.P. Morgan Securities LLC, Latin America Debt Capital Markets, 383 Madison Avenue, New York, New York 10179, (866) 846-2874 (toll-free) and (212) 834-7279 (collect) or Merrill Lynch, Pierce, Fenner & Smith Incorporated, Liability Management Group, One Bryant Park 8th Floor, New York, New York 10036, (888) 292-0070 (toll-free) and ((646) 855-8988 (collect). Requests for a copy of the Offer to Purchase and Letter of Transmittal can also be obtained from the information agent, Global Bondholder Services Corporation, at (866) 470-3700 (toll-free) and (212) 430-3774 (collect).

Global Bondholder Services Corporation has been appointed as Tender Agent and Information Agent. All deliveries and correspondence sent to the Tender and Information Agent should be directed to Global Bondholder Services Corporation, 65 Broadway – Suite 404, New York, New York 10006, Attn: Corporate Actions.

About Arauco
We are a corporation (sociedad anónima) organized under the laws of Chile. Our principal executive offices are located at Avenida El Golf 150, 14th Floor, Las Condes, Santiago, Chile. Our telephone number is +562-2461-7200, and our facsimile number is +562-2461-7541.

Forward-Looking Statements
Statements in this press release may be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to risks and uncertainties. Other than statements of historical fact, information regarding activities, events and developments that we expect or anticipate will or may occur in the future, including, but not limited to, information relating to our future growth and profitability targets and strategies designed to increase total shareholder value, are forward-looking statements based on management's estimates, assumptions and projections. Forward-looking statements also include, but are not limited to, statements regarding our future economic and financial condition and results of operations, the plans and objectives of management and our assumptions regarding our performance and such plans and objectives. Many forward-looking statements may be identified by the use of words such as "intend," "believe," "expect," "anticipate," "should," "planned," "projected," "estimated" and "potential," among others. Forward-looking statements contained in this press release are predictions only and actual results could differ materially from management's expectations due to a variety of factors, including those described the section titled "Risk Factors" in our Annual Report on Form 20-F. All forward-looking statements attributable to us or persons working on our behalf are expressly qualified in their entirety by such risk factors. The forward-looking statements that we make in this press release are based on management's current views and assumptions regarding future events and speak only as of their dates. We assume no obligation to update developments of these risk factors or to announce publicly any revisions to any of the forward-looking statements that we make, or to make corrections to reflect future events or developments, except as required by the federal securities laws.

SOURCE Celulosa Arauco y Constitucion S.A.