Automotores Gildemeister Extends Forbearance Agreement with Ad Hoc Group of Noteholders to Allow for Completion of Documentation of Agreement in Principle

Dec 08, 2015, 08:15 ET from Automotores Gildemeister S.A.

SANTIAGO, Chile, Dec. 8, 2015 /PRNewswire/ -- Automotores Gildemeister S.A. (together with its subsidiaries and affiliates, the "Company") announced today that it and an ad hoc group (the "Ad Hoc Group") of holders of over 70% of the aggregate principal amount of the Company's Existing Notes (as defined below), including more than two-thirds of the principal amount of the Company's 8.250% Senior Notes due 2021 and more than two-thirds of the principal amount of the Company's 6.750% Senior Notes due 2023 (together, the "Existing Notes") have agreed to extend the forbearance agreement entered into on November 24, 2015 (the "Forbearance Agreement") until up to December 14, 2015.  The extension of the Forbearance Agreement will allow the parties to complete the negotiation and documentation of the agreement in principle that the Company reached with the Ad Hoc Group, as previously announced on November 24, 2015, as well as the related restructuring documents.

THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN THE UNITED STATES, AND IT DOES NOT CONSTITUTE AN OFFER, SOLICITATION OR SALE IN ANY STATE OR JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL. SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES UNLESS THEY ARE REGISTERED OR EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"). ANY PUBLIC OFFERING OF SECURITIES IN THE UNITED STATES WILL BE MADE BY MEANS OF A PROSPECTUS THAT MAY BE OBTAINED FROM THE COMPANY AND THAT WILL CONTAIN DETAILED INFORMATION ABOUT THE COMPANY AND ITS MANAGEMENT, AS WELL AS FINANCIAL STATEMENTS. THIS PRESS RELEASE IS FORMULATED IN ACCORDANCE WITH RULE 135E OF THE SECURITIES ACT.

SOURCE Automotores Gildemeister S.A.