MEXICO CITY--(BUSINESS WIRE)--Unifin Financiera, S.A.B. de C.V., SOFOM, ENR (“Unifin” or “the Company”), announced today the final results of the previously announced cash tender offer (the “Tender Offer”), for any and all of its outstanding 6.250% Senior Notes due 2019 (CUSIP/ISIN No. 90470V AA1 / P94880 AA2 and US90470VAA17 / USP94880AA25) (the “2019 Notes”) and consent solicitation (the “Consent Solicitation”, and jointly with the aforementioned tender offer, the “Tender Offer”) of the holders of the 2019 Notes. The Tender Offer expired on October 5, 2016 at 12:00 midnight, New York City time (the “Expiration Time”). The Company further announced that as of the Expiration Time, Unifin had received tenders and consents (not validly withdrawn) from the holders of US$315,971,000.00 (three hundred fifteen million, nine hundred and seventy one thousand, 00/100 U.S. dollars) or 86.19% (eighty six point nineteen percent) of the total outstanding principal amount of the 2019 Notes, including US$311,872,000.00 (three hundred eleven million, eight hundred and seventy two thousand, 00/100 U.S. dollars) principal amount from the holders of the 2019 Notes that were tendered and not validly withdrawn as of 5:00 p.m., New York City time on September 21, 2016 (the “Early Tender Deadline”).
The Company plans to accept for purchase all 2019 Notes tendered by holders participating in the September 8, 2016 Tender Offer. As previously announced, holders of 2019 Notes who validly tendered and did not validly withdraw their Notes at or prior to the Early Tender Deadline, on September 27, 2016 (“the Early Payment Date”) received the amount of US$1,050.00 (one thousand and fifty 00/100 U.S. dollars) per US$1,000.00 (one thousand, 00/100 U.S. dollars) principal amount of the 2019 Notes tendered. This amount consisted of an amount equal to US$1,020.00 (one thousand and twenty, 00/100 U.S. dollars) plus US$30.00 (thirty, 00/100 U.S. dollars), per US$1,000.00 (one thousand, 00/100 U.S. dollars) principal amount of the 2019 Notes tendered, plus accrued and unpaid interest, from the last interest payment date, but not including, the Early Tender Deadline.
In addition, as of the Early Tender Deadline, the Company had obtained sufficient consents to approve the proposed amendments to the indenture under which the 2019 Notes were issued (the “Indenture”). As a result, the Company entered into a supplemental indenture dated as of the Early Tender Deadline to, among other things, eliminate Unifin’s obligation to comply with substantially all of the covenants contained in the Indenture, remove certain events of default and shorten the minimum notice period to holders required for an anticipated redemption from thirty days to six business days prior to the redemption date, with an additional minimum notice of three business days to the Trustee.
Holders who validly tendered their 2019 Notes after the Early Tender Deadline but at or prior to the Expiration Time will receive an amount equal to US$1,020.00 (one thousand and twenty, 00/100 U.S. dollars) per US$1,000.00 (one thousand, 00/100 U.S. dollars) principal amount of 2019 Notes validly tendered, plus accrued and unpaid interest from the last interest payment date for the 2019 Notes, plus accrued and unpaid interest, from the last interest payment date, but not including the actual payment date.
Payment for all 2019 Notes validly tendered after the Early Tender Deadline but at or prior to the Expiration Time will receive timely payment after the Expiration Time, and is expected to be made on October 6, 2016.
The Company’s obligations to accept any 2019 Notes tendered and not withdrawn and to pay the consideration for them are set forth solely in the Tender Offer, the Consent Solicitation and other related documents (collectively, the“Offer Documents”). The Tender Offer is made only by, and pursuant to the terms of, the Offer Documents, and the information in this news release is qualified by reference to the Offer Documents.
The dealer managers and solicitation agents of the Tender Offer and Consent Solicitation are Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. and UBS Securities LLC.
UNIFIN’s shares are listed on the Bolsa Mexicana de Valores under the ticker “UNIFIN
This document may contain certain forward-looking statements. These statements are non-historical facts, and they are based on the current vision of the Management of Unifin Financiera, S.A.B. de C.V., SOFOM, ENR for future economic circumstances, the conditions of the industry, the performance of the Company and its financial results. The terms "anticipated", "believe", "estimate", "expect", "plan" and other similar terms related to the Company, are solely intended to identify estimates or predictions. The statements relating to the declaration or the payment of dividends, the implementation of the main operational and financial strategies and plans of investment of equity, the direction of future operations and the factors or trends that affect the financial condition, the liquidity or the operating results of the Company are examples of such statements. Such statements reflect the current expectations of the management and are subject to various risks and uncertainties. There is no guarantee that the expected events, trends or results will occur. The statements are based on several suppositions and factors, including economic general conditions and market conditions, industry conditions and various factors of operation. Any change in such suppositions or factors may cause the actual results to differ from expectations.