MEXICO CITY, Feb. 2, 2017 /PRNewswire/ -- Arendal, S. de R.L. de C.V. ("Arendal" or "the Company"), a Mexican engineering, procurement and construction company, announced the settlement on January 30, 2017 of its previously announced offer to exchange (the "Exchange Offer") for any and all of its outstanding 10.50% Medium-Term Notes due 2016 (the "Old Notes") for its 11.5% Senior Secured Notes due 2021 (the "New Notes").
As previously announced by the Company, approximately 97.72% of Old Notes were validly tendered and not validly withdrawn pursuant to the Exchange Offer.
The Company validly delivered on January 30, 2017 (the "Settlement Date") an aggregate principal amount of US$103,041,717 of New Notes to holders of the Old Notes who participated in the Exchange Offer. For each US$1,000 of Old Notes tendered, the Company issued US$1,054.51 of New Notes on the Settlement Date.
The New Notes were issued only to non-U.S. persons outside the United States in offshore transactions in reliance on Regulation S under the Securities Act of 1933, as amended (the "Securities Act") or within the United States only to "qualified institutional buyers" (as defined in Rule 144A under the Securities Act) and to "accredited investors" (as that term is defined in Rule 501 of Regulation D) in reliance on Section 4(a)(2) of the Securities Act. The New Notes have not been registered under the Securities Act or under any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act, and, accordingly, are subject to significant restrictions on transfer and resale as more fully described in the Information Memorandum. For the New Notes issued pursuant to Regulation S, the ISIN number is XS155840455 and for the New Notes issued in reliance on Section 4(a)(2) of the Securities Act, the ISIN number is XS1559226722.
This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any securities. The Exchange Offer is subject to the terms and conditions set forth in the Information Memorandum dated December 14, 2016.
Arendal is a procurement and construction company operating in Mexico. Arendal provides a full range of procurement and construction services, including feasibility studies, acquisition of rights of way, conceptual design, engineering, procurement, project and construction management, construction, maintenance, technical site evaluations and other consulting services.
For additional information please contact:
Gerardo Marcelo Villareal Lozano
Tel.: +52-81-8133-4831 ext. 261
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SOURCE Arendal, S. de R.L. de C.V.