CHILE - Masisa S.A. communicated as an essential fact on September 29 that it has proceeded to redeem the Series L Bonds and the Series N Bonds whose holders validly accepted the corresponding voluntary redemption option.

The partial redemption option for up to 50% of the Series L Bonds was exercised by 100% of the bondholders, while for all of the Series N Bonds, 99.75% of the bondholders attended the voluntary rescue.

The total amount paid for the operation was approximately USD 122 million, the effect of which will be reflected in the financial statements of the Company as of September 30, 2020.

The funds used to carry out this voluntary rescue option were obtained with the sale of the Chilean forest assets completed on June 26, 2020.

“With the above, Masisa successfully completes its financial restructuring process, going from a financial debt as of June 30 of USD 483 million to a financial debt of approximately USD 170 million, which will allow it to reduce its financial burden in the coming years and concentrate their efforts on their commercial strategy and on maximizing their profitability”, the document concluded.