Bloomberg Daybreak Asia: Rally Wavers as Buyer Fatigue Kicks In
Stocks in Asia fell early Thursday for the first time in five sessions as the rally on Wall Street sparked by US-China trade talks showed signs of exhaustion, on speculation stocks have run too fast amid risks stemming from a trade war to an economic slowdown and sticky inflation. Japanese and Australian stocks edged lower, while a gauge of US-listed Chinese companies climbed 1.2% on Wednesday. Tencent Holdings Ltd.'s revenue grew at its fastest pace in more than three years. We get a look at the market landscape with Mark Konyn, Chief Investment Officer at AIA Group. Stateside, the S&P 500 edged up just 0.1%. Most sectors fell, but big tech climbed. Boeing Co. gained on its largest-ever deal, with Qatar Airways placing an order for long-range jets during a visit to Doha by Donald Trump. The dollar erased losses as Bloomberg News reported the US is not working to include currency policy pledges in trade accords. Bond yields rose as Federal Reserve rate-cut bets receded. We get the views of John Creekmur, Chief Investment Officer at Creekmur Wealth Advisors.
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High Purity Quartz (HPQ) Market Research 2025-2032: Industry Analysis, Size, Shares, Growth, Trends, and Market Forecasts
Growing Demand and a Maturing Technological Landscape That is Fostering Scalability and Affordability in HPQ Production Dublin, June 10, 2025 (GLOBE NEWSWIRE) -- The "High Purity Quartz Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2025-2032 - (By Form, End Use, Distribution Channel, Geographic Coverage and By Company)" report has been added to global high purity quartz (HPQ) market is poised for notable expansion, projected to grow from US$ 868.9 Mn in 2025 to an estimated US$ 1.38 billion by 2032. This promising growth trajectory, marked by a steady CAGR of 6.9%, is underpinned by increasing demand from key industries such as semiconductors, solar energy, and Market DriversOne of the key forces propelling the HPQ market is the surge in solar panel installations across emerging markets. In 2023 alone, global solar additions reached 447 GW, pushing total capacity to 1.6 TW. China alone contributed 253 GW, highlighting its dominance in global solar adoption. This rising emphasis on renewable energy infrastructure is directly fueling the demand for HPQ, particularly in the manufacturing of ultra-pure silicon wafers for photovoltaic the relentless expansion of the semiconductor sector continues to generate demand for high-grade quartz. With growing applications in AI, IoT, autonomous vehicles, and advanced consumer electronics, the semiconductor industry's need for defect-free materials like HPQ remains strong. The telecom and optics industry, too, is emerging as a growth driver, requiring ultra-pure quartz for high-performance fiber optic cables and optical OpportunityTechnological advancements are creating substantial opportunities in the HPQ market. Innovations in purification techniques - including plasma-based refinement, hydrothermal processing, and AI-enabled quality control - are significantly reducing production costs while maintaining ultra-high purity. Companies adopting automated purification processes and modern leaching methods are managing to reduce energy consumption and waste, thereby making HPQ more accessible to broader use of advanced monitoring systems allows for better yield, consistency, and cost-efficiency, particularly in achieving grades beyond 99.995% purity. As a result, new entrants and regional players are finding feasible entry points into the market, intensifying competition and expanding supply networks. These trends signal not only growing demand but also a maturing technological landscape that is fostering scalability and affordability in HPQ ChallengesDespite its promising growth outlook, the HPQ market faces certain hurdles. The primary challenge lies in the high cost of achieving ultra-pure quartz through complex purification processes such as thermal treatment, chemical leaching, and filtration. These methods are both energy-intensive and expensive, requiring significant capital the availability of raw materials is constrained by the limited number of high-quality quartz deposits globally. Key sources include regions in the United States (notably Spruce Pine, North Carolina), Norway, and Australia. The geographical concentration of these reserves makes the market vulnerable to supply disruptions, such as the impact of Hurricane Helene on Spruce Pine's mining operations in 2024. Limited production capacity, coupled with high operational costs, continues to hamper broader market AnalysisThe Asia Pacific region stands out as the largest consumer of high purity quartz, driven by robust growth in both semiconductor manufacturing and solar energy adoption. Countries like China, South Korea, Japan, and Taiwan are global leaders in chip production and solar panel manufacturing. Notable investments such as Micron Technology's US$ 825 million semiconductor facility in India illustrate the region's long-term commitment to electronic manufacturing and renewable energy, thus reinforcing demand for Europe, the high purity quartz market is buoyed by the region's aggressive renewable energy targets. The European Union's goal for solar to account for 20% of electricity generation has catalyzed solar panel manufacturing, with countries such as Germany, France, and the UK leading the charge. A notable 26% increase in solar photovoltaic generation in 2022 illustrates the continent's rising dependence on HPQ for clean energy America, meanwhile, holds a pivotal position in HPQ production, thanks to the world-renowned Spruce Pine mines in North Carolina. This region supplies up to 90% of the globe's ultra-pure quartz. The geological uniqueness of Spruce Pine ensures unmatched purity, positioning North America as a strategic supplier, especially to the global semiconductor industry. Investment efforts by companies such as Sibelco to expand production capacities are expected to reinforce the region's Players The global HPQ market is characterized by the presence of several key players that are focused on research, capacity expansion, and strategic collaborations. These include: Sibelco High Purity Quartz Pty. Ltd. Creswick Quartz The Quartz Corporation Nordic Mining ASA Momentive Performance Materials Inc. Australian Silica Quartz Group Ltd. Fineton Development Limited Solar Quartz Technologies Companies are increasingly investing in R&D to refine purification technologies and reduce production costs. At the same time, partnerships and joint ventures are being forged to secure raw material sources and expand into new geographical in September 2024, Global Surfaces FZE launched the Middle East's largest engineered surfaces facility in the UAE, while Rover Critical Minerals Corp. moved to acquire the Silicon Valley Silica Project in British Columbia, which is estimated to host over 12 kilometers of high-purity Expert's EyeMarket analysts emphasize that HPQ's pricing varies significantly by grade and application. For instance, quartz used in lighting applications can be priced around US$ 650 per ton, whereas Grade-1 for telecom and optics reaches US$ 5,000 per ton. The most premium grades - Grade-2 and Grade-3 - used in semiconductors and photovoltaic cells can fetch as much as US$ 20,000 per ton. This reflects the value of HPQ in critical applications and underscores the market's potential profitability. The global high purity quartz market is segmented as follows: By Grade HPQ Powder Grade I Grade II Grade III By Application Semiconductor Solar Lighting Telecom & Optics Microelectronics Others By Region North America Europe Asia Pacific Latin America The Middle East & Africa For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
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FS LUXEMBOURG S.À R.L. COMMENCES CASH TENDER OFFER FOR UP TO US$200.0 MILLION IN AGGREGATE PRINCIPAL AMOUNT OF 8.875% SENIOR NOTES DUE 2031
SíO PAULO, June 10, 2025 /PRNewswire/ -- FS Luxembourg S.à r.l. (the "Issuer", "we", "us" or "our"), a wholly-owned finance subsidiary of FS Indústria de Biocombustíveis Ltda. ("FS Ltda."), announces that it has commenced a cash tender offer (the "Tender Offer") for up to US$200.0 million in aggregate principal amount (subject to increase by the Issuer, in its sole discretion, the "Maximum Tender Amount") of its 8.875% senior notes due 2031 (the "Notes"). The Notes are fully, unconditionally and irrevocably guaranteed by FS Ltda. and FS I Indústria de Etanol S.A. (together with FS Ltda., the "Guarantors"). The Tender Offer is being made upon the terms and subject to the conditions set forth in an offer to purchase, dated June 10, 2025 (the "Offer to Purchase"). Any capitalized term used but not defined in this press release has the respective meaning set forth in the Offer to Purchase. The following table sets forth certain information regarding the Notes and the terms of the Tender Offer, including price information: Title of Security CUSIP / ISIN Principal AmountOutstanding Tender OfferConsideration(1) Early TenderPremium(2) Total Consideration(3) 8.875% Senior Notes due2031 Rule 144A: 30315X AC8 /US30315XAC83 Regulation S: L40756 AE5/ USL40756AE57 US$600,000,000 US$997.50 US$30.00 US$1,027.50 __________________ (1) The amount to be paid for each US$1,000 principal amount of Notes validly tendered after the Early Tender Date but at or prior to the Expiration Date and accepted for purchase. In addition, Accrued Interest will be paid. (2) Per US$1,000 principal amount of Notes validly tendered at or prior to the Early Tender Date and accepted for purchase. (3) The amount to be paid for each US$1,000 principal amount of Notes validly tendered at or prior to the Early Tender Date and accepted for purchase. The Total Consideration includes the Early Tender Premium. In addition, Accrued Interest will be paid. The Tender Offer will expire at 5:00 p.m. (New York City time) on July 10, 2025 (such time and date, as it may be extended by the Issuer, the "Expiration Date"). Holders of Notes that are validly tendered (and not validly withdrawn) at or prior to 5:00 p.m. (New York City time) on June 24, 2025 (such time and date, as it may be extended by the Issuer, the "Early Tender Date") and that are accepted for purchase will be eligible to receive the Total Consideration, which includes the Early Tender Premium, in each case as set forth in the table above, plus Accrued Interest. Holders of Notes that are validly tendered after the Early Tender Date and at or prior to the Expiration Date will only be eligible to receive the Tender Offer Consideration, which equals the Total Consideration less the Early Tender Premium, as set forth in the table above, plus Accrued Interest. Notes that have been validly tendered pursuant to the Tender Offer may be validly withdrawn at or prior to 5:00 p.m. (New York City time) on June 24, 2025, but not thereafter except as may be required by applicable law (as determined by the Issuer). Settlement Assuming our acceptance of Notes tendered pursuant to the Tender Offer, Holders that have validly tendered and not validly withdrawn Notes at or prior to the Early Tender Date and whose Notes are accepted for purchase will, if we so elect, receive payment one business day following the Early Tender Date but before the Expiration Date (the "Early Settlement Date"). If we do not, in our sole discretion, elect to pay for such tendered Notes prior to the Expiration Date, then the Early Settlement Date will be the same as the Final Settlement Date. We will make payment for Notes validly tendered after the Early Tender Date but at or prior to the Expiration Date and accepted by us for purchase on the settlement date that is expected to be two business days following the Expiration Date or as promptly as practicable thereafter (the "Final Settlement Date"), in any case up to the Maximum Tender Amount. Proration If the purchase of all Notes validly tendered (and not validly withdrawn) at or prior to the Early Tender Date would cause us to accept for purchase an aggregate principal amount of Notes that exceeds the Maximum Tender Amount, then the Tender Offer will be oversubscribed at the Early Tender Date and, assuming satisfaction or waiver of the conditions to the Tender Offer, we will purchase on, at our option, the Early Settlement Date or the Final Settlement Date Notes validly tendered (and not validly withdrawn) at or prior to the Early Tender Date and accepted for purchase all Notes validly tendered (and not validly withdrawn) at or prior to the Early Tender Date on a prorated basis according to the principal amount of such Notes, such that we purchase an aggregate principal amount of Notes that does not exceed the Maximum Tender Amount. If the Tender Offer is not oversubscribed at the Early Tender Date and the purchase of all Notes validly tendered after the Early Tender Date but at or prior to the Expiration Date (when combined with all Notes validly tendered (and not validly withdrawn) at or prior to the Early Tender Date) would cause us to accept for purchase an aggregate principal amount of Notes that exceeds the Maximum Tender Amount, then the Tender Offer will be oversubscribed at the Expiration Date and, assuming satisfaction or waiver of the conditions to the Tender Offer, we will purchase on the Final Settlement Date Notes validly tendered at or prior to the Expiration Date and accepted for purchase, as follows: first, to the extent there was no Early Settlement Date, all Notes validly tendered (and not validly withdrawn) at or prior to the Early Tender Date; and second, all Notes validly tendered after the Early Tender Date but at or prior to the Expiration Date, on a prorated basis according to the principal amount of such Notes, such that we purchase an aggregate principal amount of Notes that does not exceed the Maximum Tender Amount. All tendered Notes not accepted will be promptly credited to the Holder's account with DTC or otherwise returned to the Holder without cost. In the event that the amount of Notes validly tendered (and not validly withdrawn) at or prior to the Early Tender Date would result in an aggregate principal amount that exceeds the Maximum Tender Amount and we elect to have an Early Settlement Date, then, subject to the terms and conditions of the Tender Offer, Notes tendered after the Early Tender Date will not be eligible for purchase, unless the Maximum Tender Amount is increased. We reserve the right, but are under no obligation, to increase the Maximum Tender Amount at any time, subject to compliance with applicable law. Conditions to the Tender Offer Our obligation to purchase Notes in the Tender Offer is subject to the satisfaction or waiver of a number of conditions, including the receipt by us of proceeds from a proposed debt financing on terms reasonably satisfactory to us, in our sole discretion and subject to applicable law, generating net proceeds in an amount that is sufficient to effect the repurchase of the Notes validly tendered and accepted for purchase pursuant to the Tender Offer, including the payment of any premiums, Accrued Interest and costs and expenses incurred in connection therewith. The Tender Offer is not conditioned upon the tender of any minimum principal amount of Notes. However, the Tender Offer is subject to the Maximum Tender Amount. Other Information The Issuer has engaged Morgan Stanley & Co. LLC to act as dealer manager (the "Dealer Manager") in connection with the Tender Offer. In such capacity, the Dealer Manager may contact Holders regarding the Tender Offer and may request brokers, dealers, commercial banks, trust companies and other nominees to forward the Offer to Purchase and related materials to beneficial owners of Notes. The Dealer Manager can be contacted at its telephone numbers set forth on the back cover page of the Offer to Purchase with questions regarding the Tender Offer. Copies of the Offer to Purchase are available to Holders from D.F. King & Co., Inc., the tender agent and the information agent for the Tender Offer (the "Tender and Information Agent"). Requests for copies of the Offer to Purchase should be directed to D.F. King at +1 (888) 280-6942 (toll-free) or +1 (212) 256-9086 (collect). Neither the Offer to Purchase nor any related documents have been filed with the U.S. Securities and Exchange Commission, nor have any such documents been filed with or reviewed by any federal or state securities commission or regulatory authority of any country. No authority has passed upon the accuracy or adequacy of the Offer to Purchase or any related documents, and it is unlawful and may be a criminal offense to make any representation to the contrary. Under no circumstances shall this press release constitute an offer to buy or the solicitation of an offer to sell the Notes or any other securities of the Issuer, the Guarantors or any of their affiliates in the United States or in any other jurisdiction. The Tender Offer is not being made to, nor will the Issuer accept tenders of Notes from, Holders in any jurisdiction in which the Tender Offer would not be in compliance with the securities or blue sky laws of such jurisdiction. Important Notice regarding Forward-Looking Statements This press release contains forward-looking statements. Forward-looking statements are information of a non-historical nature or that relate to future events and are subject to risks and uncertainties. No assurance can be given that the transactions described in this press release will be consummated or as to the ultimate terms of any such transactions. Neither the Issuer nor the Guarantors undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason. Disclaimer This press release must be read in conjunction with the Offer to Purchase. This press release and the Offer to Purchase contain important information that must be read carefully before any decision is made with respect to the Tender Offer. If any Holder is in any doubt as to the action it should take, it is recommended to seek its own legal, tax, accounting and financial advice, including as to any tax consequences, from its attorney, accountant or other independent financial or legal adviser. None of the Issuer, the Guarantors, the Dealer Manager, the Tender and Information Agent or any affiliate of such persons expresses any opinion as to whether the terms of the Tender Offer are fair to any Holder. Holders must make their own decision as to whether to tender any Notes and, if so, the principal amount of Notes to tender. View original content: SOURCE FS Luxembourg S.à r.l.
