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Guacolda Energia extends tender offer for 2025 notes, gives early tally
By Mary-Katherine Stinson
Los Angeles, March 27 – Chile’s Guacolda Energia SpA announced the early results of its March 13 tender offer to purchase for cash its 4.56% senior notes due 2025 (Cusip: 29244UAF5, P3711HAF6) for an aggregate purchase price up to $80 million and also extended the early tender time, according to a press release.
As of the original early deadline of 5 p.m. ET on March 24, holders had tendered $129,282,000 of the $407,149,000 principal amount outstanding.
The early tender time has now been extended to 5 p.m. ET on March 31.
The withdrawal deadline, which was 5 p.m. ET on March 24, was not extended and has passed.
As previously reported, the company is offering a total consideration of $450 per $1,000 principal amount.
The total consideration includes an early tender premium of $50 per $1,000 of notes tendered by the early tender time, which will now be available to those who tender by the extended early tender time.
Holders tendering after the amended early tender time will only be eligible to receive the tender offer consideration of $400 per $1,000 of notes.
The company will also pay accrued interest to but excluding the applicable settlement date.
Tendered notes may be subject to proration if the offer cap is exceeded.
The tender offer will expire at 5 p.m. ET on April 11.
Final settlement will be on the second business day after the expiration date.
BofA Securities, Inc. (800 292-0070 or 646 855-8988) is the dealer manager for the tender offer.
The tender and information agent is D.F. King & Co., Inc. (866 207-2239).
The power generation company is based in Santiago, Chile.
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