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Docuformas launches tender offer and consent for 9¼% notes due 2022
Chicago, July 2 – Mexico’s Docuformas, SAPI de CV announced that it has started a cash tender offer for any and all of its 9¼% senior notes due 2022, according to a press release.
The company is offering a total consideration of $1,015 per $1,000 principal amount of notes. The total consideration includes the tender offer consideration of $965 plus an early tender payment of $50.
The early tender date is 5 p.m. ET on July 15. The tender offer and consent solicitation will expire at 11:59 p.m. ET on July 29.
Notes tendered may be withdrawn and consents delivered may be revoked at any time prior to 5 p.m. ET on July 15.
In connection with the tender offer, the company is seeking consents from noteholders to amend the indenture governing the notes.
The amendments would eliminate substantially all of the restrictive covenants and certain events of default and related provisions. Additionally, the minimum notice period of redemption would be shortened to three days prior to a redemption date from 30 days.
The amendments require the consent of a majority of noteholders. Noteholders who tender their notes are deemed to have consented to the proposals. Holders may not deliver consents without tendering their notes.
D.F. King & Co., Inc. is working as tender and information agent for the tender offer and consent solicitation (877 283-0325 or 212 269-5550 or Docuformas@dfking.com).
Morgan Stanley & Co. LLC, UBS Securities LLC and Banco BTG Pactual SA – Cayman Branch are acting as dealer managers and solicitation agents.
Based in Mexico, Docuformas provides financing solutions for the acquisition of productive assets and equipment by mostly small- and medium-sized businesses.
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