Transtel Tenderco extends tender for parent Transtel units

New York, Nov. 8 - Transtel Tenderco, Ltd., a wholly owned subsidiary of Transtel SA, extended the consent deadline in its tender offer for any and all of the outstanding 152,086 of Transtel SA's units.

The new consent deadline is 5 p.m. ET on Nov. 16 instead of 5 p.m. ET on Nov. 14. The expiration remains unchanged at 8 a.m. ET on Nov. 29, unless extended.

The units covered by the tender are made up of $1,000 of 12½% senior secured convertible notes due 2008, $205 initial accreted value convertible subordinated notes due 2008 and one shares trust certificate for 634,970 Transtel shares.

As announced on Oct. 31, Tenderco is also soliciting consents to, among other things, terminate the mandatory sale process agreement for the 12½% notes' indenture, separate the units into their component securities, eliminate restrictive covenants and events of default on the notes' indentures, waive any existing defaults, amend the shareholders agreement and modify payment schedules for intercompany notes.

Transtel said it will pay $1,167.14 per unit, which includes a $25.00 consent payment for those who tender before the consent deadline, as well as accrued interest up to but excluding the payment date.

The offer is conditioned upon the receipt of consents from holders of at least 90% of the units, completion of a private placement of new notes, the execution of supplemental indentures implementing the matters for consent and other conditions.

MacKenzie Partners, Inc. is the information agent (call collect 212 929-5550 or 800 322-2885). UBS Investment Bank is dealer manager and solicitation agent (call collect 203 719-4210 or 888 722-9555, extension 4210).

Based in Cali, Colombia, Transtel is a fixed-line private telecommunications company.

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