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Peru’s Consorcio Transmantaro launches tender offer, consent bid for 4 3/8% notes due 2023
By Rebecca Melvin
Concord, N.H., March 23 – Consorcio Transmantaro SA launched an offer to purchase and consent solicitation Tuesday regarding its $450 million outstanding 4 3/8% senior unsecured notes due 2023 (ISINs: US210314AA87, USP3083SAC90), according to a press release and offer to purchase and consent bid statement.
The tender offer will expire at 11:59 p.m. ET on April 19.
There is an early tender deadline at 5 p.m. ET on April 4.
Holders must validly tender their notes and deliver consents at or before the early tender date to be eligible to receive the total consideration, which is $1,023.50 per $1,000 note, including a $30.00 per $1,000 note early tender payment.
Bonds tendered after the early deadline will be eligible for payment of $993.50 per $1,000 note. Accrued interest will also be paid in both instances.
Notes tendered may be withdrawn prior to 5 p.m. ET on April 4.
Any holder who tenders notes will be deemed to have provided automatically a consent to the proposed amendments, which have to do with optional redemption clauses. If the required consents are received, a supplemental indenture will be executed.
The offer is 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 information and tender agent.
The power transmission company is based in Lima, Peru.
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