Avanza postpones 2014 report to bondholders; publication not expected

New York, April 28 – Avanza Spain SAU said it has postponed publication of its annual bondholder report for the year ended Dec. 31, 2014 and the related conference call.

The company said the results are delayed pending completion of the tender offers and consent solicitations for the €315 million of 7½% senior secured notes due 2018 issued by AG Spring Finance Ltd. and the €175 million of 9½% senior notes due 2019 issued by AG Spring Finance II Ltd.

Avanza said it expects to receive the necessary consents to amend the indentures for both series of notes.

These amendments will remove substantially all the restrictive covenants, including the requirement to publish reports and hold conference calls.

Following settlement of the tender offer, Avanza does not plan to publish the report for 2014 or for any future period nor does it intend to hold conference calls.

As previously announced, the tenders expire at 11:59 p.m. ET on April 27, delayed from 11:59 p.m. ET on April 23. They were previously extended from 11:59 p.m. ET on April 15.

Madrid-based Avanza Spain is a provider of bus transportation services in Spain and of mass transit bus transportation services in Spain and Portugal.

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