Colombia’s Termocandelaria begins consent solicitation for 7 7/8% notes due 2029

Chicago, June 29 – Termocandelaria Power Ltd. started a consent solicitation to amend its 7 7/8% senior notes due 2029, according to a press release.

The company is seeking the proposed amendments to restructure its existing intercompany loans through credit-linked instruments in order to improve intercompany cash management and provide the company with additional operational flexibility for the management of its cash reserves by permitting the investment by the company in certain marketable securities of governments, government agencies or instrumentalities of Colombia.

The consent solicitation will expire at 5 p.m. ET on July 13.

If the supplemental indenture is executed and the other terms and conditions set forth in the consent solicitation are satisfied or waived, then consenting noteholders will receive a cash payment of $2 per $1,000 principal amount of notes.

Consents from a majority of noteholders must be received in order to execute the supplemental indenture.

D.F. King & Co., Inc. is the information agent (212 269-5550, 877 761-6251, or tpl@dfking.com).

Termocandelaria is a power generation company based in Soledad, Colombia.

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