Pyxus exchange offer: 92.74% of 10% notes tendered for new 8.5% notes due 2027

PYXUS INTERNATIONAL, INC.

$260.5M of $281M outstanding existing notes tendered (92.74% participation).
Exchange cuts coupon from 10.00% to 8.50% and extends maturity from 2024 to 2027.
Settlement expected Feb 6, 2023; consent solicitation to amend indenture and release collateral succeeded.
Remaining non-tendered notes also bound by indenture amendments eliminating most covenants.
Issuer Pyxus Holdings, Inc. (wholly-owned subsidiary) executes exchange with eligible holders.

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