MEXICO CITY, Jan. 23, 2017 /PRNewswire/ -- Arendal, S. de R.L. de C.V. ("Arendal" or "the Company"), a Mexican engineering, procurement and construction company, today announced the expiration and final results of the 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").
The Exchange Offer, which was made pursuant to the Information Memorandum dated December 14, 2016 (the "Information Memorandum"), expired at 5:00 P.M., New York City time, on January 20, 2017 (the "Final Expiration Date").
Epiq Corporate Restructuring, the information and exchange agent for the Exchange Offer (the "Information and Exchange Agent"), has advised the Company that as of the Final Expiration Date, approximately 97.72% of Old Notes had been validly tendered and not validly withdrawn pursuant to the Exchange Offer.
The Company also announced today that, in accordance with the terms and conditions of the Exchange Offer, it has accepted for exchange all of the Old Notes validly tendered as of the Final Expiration Date.
The Company anticipates settlement of the Exchange Offer on or about January 27, 2017, at which time it will issue approximately $102,940,038 principal amount of its New Notes.
The complete terms and conditions of the Exchange Offer are described in the Information Memorandum, copies of which may be obtained by eligible holders of the Old Notes by contacting the Information and Exchange Agent via email at firstname.lastname@example.org (please reference "Arendal" in the subject line).
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 being made and the New Notes are being offered only to "qualified institutional buyers," holders that are not "U.S. persons" and certain institutional investors that are "accredited investors" as such terms are defined under the Securities Act of 1933, as amended (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. The Exchange Offer is subject to the terms and conditions set forth in the Information Memorandum.
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.
This release contains certain forward-looking statements regarding the future events or the future financial performance of Arendal. These statements reflect management's current views with respect to future events or financial performance, and are based on management's current assumptions and information currently available and are not guarantees of the Company's future performance. The timing of certain events and actual results could differ materially from those projected or contemplated by the forward-looking statements due to a number of factors including, but not limited to those inherent to operating in a highly regulated industry, strong competition, commercial and financial execution and economic conditions, among others.
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.