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withdrawn, and the aggregate principal amount of Securities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
Outstanding
|
Tender
Consideration(1)
|
Principal Amount
Tendered and
Accepted for
Purchase
|
6.500% Senior
Notes due 2028
|
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: jgranillo@idesa.com.mx
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SOURCE Grupo IDESA, S.A. de C.V.