Mexico’s Cibanco tenders for 4 3/8% notes up to $150 million purchase price

By Wendy Van Sickle

Columbus, Ohio, Nov. 15 – Cibanco SA has begun a cash tender offer to purchase its $600 million 4 3/8% notes due 2031 (Cusips: 171653AA6, P26064AA6) for a total purchase price, excluding accrued interest, of $150 million, according to a news release.

The company is offering a total consideration of $710 per $1,000 principal amount, which includes an early tender premium of $50 per $1,000 notes that will be paid only to holders who tender their notes by the early deadline, 5 p.m. ET on Nov. 29.

The offer expires at 5 p.m. ET on Dec. 13.

The offer is not conditioned on any minimum amount of notes being tendered or the consummation of any other offer, but it is conditioned upon satisfaction of some conditions, including, without limitation, that a new debt transaction has been consummated.

Tenders must be submitted in principal amounts equal to $200,000 and integral multiples of $1,000 in excess thereof.

BBVA Securities Inc. (800 422-8692, 212 728-2303 or liabilitymanagement@bbva.com) and Scotia Capital (USA) Inc. (800 372-3930, 212 225-5501 or LM@scotiabank.com) are the dealer managers.

D.F. King & Co., Inc. (212 269-5550, 888 564-8149 or cibanco@dfking.com) is the tender agent and information agent.

The trust is based in Mexico City.

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