MEXICO CITY, July 30, 2024 /PRNewswire/ — Grupo IDESA, S.A. de C.V. (the “Company“) announces the expiration and expiration date results of the previously announced offer to purchase for cash (the “Tender Offer“) its outstanding 6.500% Notes due 2028 (the “Securities“).
The Tender Offer was made pursuant to the terms and conditions set forth in the offer to purchase dated July 24, 2024 (the “Offer to Purchase“) and the related notice of guaranteed delivery (the “Notice of Guaranteed Delivery” and, together with the Offer to Purchase, the “Offer Documents“). Capitalized terms used but not defined in this press release have the meaning set forth in the Offer to Purchase.
The Tender Offer expired at 5:00 p.m., New York City time, on July 30, 2024 (the “Expiration Date“). The settlement date with respect to the Tender Offer is expected to occur on August 5, 2020 (the “Settlement Date“).
The table below sets forth the aggregate principal amount of Securities validly tendered in the Tender Offer and not validly withdrawn, and the aggregate principal amount of Securities reflected in notices of guaranteed delivery delivered, at or prior to the Expiration Date and the consideration payable for Securities accepted for purchase in the Tender Offer:
|
Securities |
CUSIP |
ISIN |
Principal Amount |
Tender |
Principal Amount |
|
6.500% Senior |
40053LAC9; P4954WAC4 |
US40053LAC90; SP4954WAC49 |
US$175,584,145 |
US$800 |
170,864,561 |
|
(1) Per each US$1,000 principal amount of Securities. Holders who validly tender Securities and whose Securities are accepted for purchase will also receive the Accrued Coupon Payment. |
In order to be eligible to participate in the Tender Offer, holders of Securities reflected in notices of guaranteed delivery received by the Company prior to the Expiration Date must deliver such Securities to the Company by 5:00 p.m., New York City time, on August 1, 2024.
A press release announcing the final results of the Tender Offer is expected to be issued on or promptly after the Settlement Date.
The total cash payment to purchase on the Settlement Date the Securities validly tendered and accepted for repurchase, including accrued and unpaid interest, will be approximately US$139.7 million.
Conditions and Waiver
All conditions described in the Offer to Purchase that were to be satisfied or waived on or prior to the Expiration Date, including the Financing Condition (as such term is defined in the Offer to Purchase), were satisfied on or prior to the Expiration Date.
The Tender Agent and Information Agent
Global Bondholder Services Corporation will act as the tender agent (the “Tender Agent“) and information agent (the “Information Agent“) for the Tender Offer.
Requests for additional copies of the Offer Documents may be directed to Global Bondholder Services Corporation at +1 (855) 654-2015 (toll-free) or +1 (212) 430-3774 (collect). The Offer Documents can be accessed at the following link: https://www.gbsc-usa.com/idesa/.
Disclaimer
This press release is for informational purposes only and does not constitute an offer to purchase or sell or the solicitation of an offer to sell or purchase any securities, nor shall there be any offer, solicitation or sale of any securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful.
The Tender Offer is being made solely pursuant to the Offer Documents. The Offer Documents have not been filed with, and have not been approved 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 Documents or any other documents related to the Tender Offer. Any representation to the contrary is unlawful and may be a criminal offense. The Tender Offer is not being made to holders of Securities in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Tender Offer to be made by a licensed broker or dealer, the Tender Offer will be deemed to be made on behalf of the Company or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
THE INFORMATION CONTAINED HEREIN AND IN THE OFFER TO PURCHASE DOES NOT CONSTITUTE AN OFFER OR INVITATION IN MEXICAN TERRITORY. THIS PRESS RELEASE AND ANY INFORMATION ISSUED BY THE COMPANY ON THE TERMS OF THIS OFFER TO PURCHASE IS SOLELY OUR RESPONSIBILITY AND HAS NOT BEEN REVIEWED OR AUTHORIZED BY THE MEXICAN NATIONAL BANKING AND SECURITIES COMMISSION (COMISIÓN NACIONAL BANCARIA Y DE VALORES). THE TENDER OFFER WILL BE MADE UNDER THE RESPONSIBILITY OF EACH HOLDER. THE TERMS AND CONDITIONS OF THE OFFER TO PURCHASE WILL BE NOTIFIED TO THE CNBV FOR INFORMATIONAL PURPOSES ONLY AND SUCH NOTICE DOES NOT CONSTITUTE A CERTIFICATION AS TO THE SECURITIES OR THE SOLVENCY OF THE COMPANY.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements are information of a non-historical nature or which relate to future events and are subject to risks and uncertainties. No assurance can be given that the transactions described herein will be consummated or as to the ultimate terms of any such transactions. The Company undertakes no 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.
Media Contact:
Jesus Granillo Rodríguez
T: +52 (55) 2789-2200
E: [email protected]
SOURCE Grupo IDESA, S.A. de C.V.
