Argentina’s Banco Hipotecario again extends tender for 9¾% notes

New York, Nov. 27 – Banco Hipotecario SA said it further extended the cash tender offer for its $211,071,000 of outstanding $250 million 9¾% notes due 2016, series 5.

The expiration is now 8 a.m. ET on Nov. 30, pushed back from 8 a.m. ET on Nov. 27. It had previously been extended from 8 a.m. ET on Nov. 24. The offer began on Nov. 10.

As of the previous expiration, holders had tendered $121,812,000, or 57.71% of the notes, up slightly from the response of $121,752,000 principal amount, or 57.68%, by the original offer expiration, according to a news release.

As previously announced, the purchase price is $1,025 for each $1,000 principal amount plus accrued interest up to but excluding the payment date.

Settlement is expected to occur promptly, and no later than five business days, after the offer ends, the company previously said.

Tendered notes may be withdrawn at any time by the earlier of the offer expiration or, if the offer is extended, the 10th business day after the beginning of the offer, according to a previous announcement. Notes also may also be withdrawn if the offer has not been completed within 60 business days.

The offer is subject to a financing condition.

Itau BBA USA Securities, Inc. (212 710-6749 or 888 770-4828) and BofA Merrill Lynch (646 855-8988) are the dealer managers.

Holders also may contact D.F. King & Co., Inc. at 212 269-5550, 877 283-0317 or bhip@dfking.com, or go to dfking.com/bhi.

Banco Hipotecario is a Buenos Aires-based commercial bank.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.