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Argentina’s Edenor accepts $4.03 million 2022 notes for exchange
By Marisa Wong
Los Angeles, Oct. 24 – Empresa Distribuidora y Comercializadora Norte SA (Edenor) announced the results of its Sept. 23 offer to exchange any and all of its outstanding 9¾% senior notes due 2022 (ISIN: US29244AAK88, USP3710FAJ32) for new 9¾% senior notes due May 12, 2025 and cash, according to a Friday press release.
As of the expiration of the offer at 5 p.m. ET on Oct. 21, $4,029,000, or 16.35%, of the outstanding $26,231,000 of existing notes had been tendered.
The company has accepted the tendered notes for exchange into $2,538,270 of new notes and $1,611,600 of cash. Settlement will be on Oct. 24.
As previously reported, Edenor offered in exchange for each $1,000 principal amount of existing notes, $630 principal amount of new notes and $400 of cash.
In addition, the company will pay accrued interest to but excluding the settlement date.
The new exchange notes are additional debt securities under the indenture dated May 12, which covers Edenor’s previously issued $52,706,268 of notes due 2025. The initial 2025 notes and the additional exchange 2025 notes are fungible and will constitute a single series of debt securities.
Morrow Sodali Ltd. (Edenor@investor.morrowsodali.com; 203 609-4910; +44 20 4513 6933) is the exchange and information agent for the Rule 144A and Regulation S exchange offer. Offer documents are available for eligible holders at https://projects.morrowsodali.com/EdenorEligibility.
BofA Securities, Inc. is acting as the dealer manager for the offer outside Argentina.
Global Valores SA (capitalmarkets@globalvalores.com.ar; +54 11 5235 1200) is Argentine dealer manager for the offer in Argentina.
Edenor is a Buenos Aires-based electricity producer.
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