Colombia's Transtel Intermedia once more extends exchange offer for 12% notes

By Jennifer Chiou

New York, Feb. 17 - Transtel Intermedia SA said it again extended the private exchange offer and consent solicitation for its 12% senior notes due 2016, this time to 5 p.m. ET on Feb. 20 from Feb. 13.

As of Feb. 13, $58.3 million of the notes had been tendered, according to a company news release. The figure was $56.3 million on Feb. 6 and $44.5 million on Jan. 30.

The offer began on Jan. 23. It was previously extended to Feb. 6 from Jan. 30.

The company is offering one new unit for each $100,000 principal amount of notes. Each unit consists of $100,000 principal amount of new senior secured amortizing step-up notes due 2016 and 100 warrants to purchase shares of common stock.

The company is soliciting consents to delist the 12% notes from the Euro MTF, the alternative market of the Luxembourg Stock Exchange, and to make some amendments to the indenture governing the notes.

The offer is conditioned on the receipt of tenders for at least 95% of the notes.

HSBC Bank USA, NA is the exchange agent. Morgan Stanley & Co. Inc. (800 624-1808 or call collect 212 761-1864) is the dealer manager and solicitation agent.

The company is a privately held fixed-line telecommunications service provider based in Cali, Colombia.

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