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Consorcio Transmantaro sees tenders for $361.53 million 4 3/8% notes
By Marisa Wong
Los Angeles, April 5 – Consorcio Transmantaro SA announced the early tender results for the offer for its $450 million outstanding 4 3/8% senior notes due 2023 (ISINs: US210314AA87, USP3083SAC90).
As of 5 p.m. ET on April 4, the early tender date, holders had tendered $361,529,000, or 80.34%, of the outstanding notes. Early settlement will be on April 12.
The company is offering to purchase the notes for cash at $1,023.50 per $1,000 note, including a $30.00 per $1,000 note early tender payment.
The company is also soliciting consents to some proposed amendments to the indenture governing the notes, as announced on March 22.
Based on the participation received as of the early deadline, the issuer has obtained the required consents to effect the proposed amendments. The company will execute a supplemental indenture, and the amendments will become operative once payment is made on the early settlement date.
The tender offer is set to expire at 11:59 p.m. ET on April 19.
Holders tendering after the early tender date but at or prior the expiration time will be eligible to receive the tender offer consideration of $993.50 per $1,000 note.
The company will also pay accrued interest.
Tenders may not longer be withdrawn, and consents may no longer be revoked.
The tender offer and consent solicitation are conditioned on settlement of a new offering of senior notes, among other things.
BofA Securities, Inc. (646 855-8988, 888 292-0070) and J.P. Morgan Securities LLC (866 846-287, 212 834-7279) are the dealer managers and solicitation agents for the tender offer and consent solicitation. D.F. King & Co., Inc. (212 232-3233; fax: 212 709-3328) is the information and tender agent.
The power transmission company is based in Lima, Peru.
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