As of July 7, 2016, $176.5 million aggregate principal amount of the Notes were outstanding. The Tender Offer is being made pursuant to an Offer to Purchase dated July 8, 2016 (as it may be amended or supplemented, the "Offer to Purchase") and the related Letter of Transmittal dated July 8, 2016 (as it may be amended or supplemented, the "Letter of Transmittal") and Notice of Guaranteed Delivery, which together constitute the "Offer." The Offer will expire at 5:00 p.m., New York City time, on July 14, 2016, unless extended or earlier terminated (the "Expiration Time").
Assuming the Offer is not extended, it is expected that payment will be made on July 15, 2016 (other than with respect to Notes tendered pursuant to the guaranteed delivery procedures described in the Offer to Purchase, with respect to which payment is expected to be made on July 18, 2016).
The Offer is subject to certain conditions described in the Offer to Purchase, but is not conditioned on the tender of a minimum principal amount of Notes. Banco Continental may amend, extend or terminate the Offer in its sole discretion, subject to applicable law.
Tendered Notes may be withdrawn at any time at or prior to the earlier of (i) the Expiration Time and (ii) if the Offer is extended, the 10th business day following commencement of the Offer. Tendered Notes may also be validly withdrawn in the event the Offer has not been consummated within 60 business days after commencement of the Offer.
The dealer manager for the Offer is Citigroup Global Markets Inc. (the "Dealer Manager"). Any questions regarding the terms of the Offer should be directed to the Dealer Manager at (212) 723-6106. Any questions regarding procedures for tendering Notes should be directed to the Information Agent and Tender Agent for the Offer, Global Bondholder Services Corporation, toll-free at 866-807-2200 or 65 Broadway, Suite 404, New York, NY 10006.
Copies of the Offer to Purchase, Letter of Transmittal and Notice of Guaranteed Delivery are available from the Information Agent and Tender Agent and at the following web address: http://www.gbsc-usa.com/Banco.
About Banco Continental
Banco Continental is a leading financial institution with more than 35 years of experience in the Paraguayan market. The company complements the dynamics of the local market offering products and services to major production, trade and social areas of the country. It also offers several types of financing and high quality services in its retail, corporate and SME banking, always focusing on the sustainable use of natural resources.
Certain Information Regarding the Offer
The information in this press release describing Banco Continental's Offer is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell Notes in the Offer or any other security of Banco Continental. The Offer is being made only pursuant to the Offer to Purchase and the related materials that Banco Continental will distribute to holders of the Notes. The Offer is not being made in any jurisdiction in which the making of or acceptance thereof would not be in compliance with the securities laws, blue sky laws or other laws of such jurisdiction. In those jurisdictions where the securities, blue sky or other laws require the Offer to be made by a licensed broker or dealer, the Offer shall be deemed to be made on behalf of Banco Continental by Citigroup Global Markets Inc. or one or more registered brokers or dealers licensed under the laws of such jurisdiction. Holders of the Notes should read the Offer to Purchase and the related materials carefully because they contain important information, including the various terms and conditions of the Offer. None of Banco Continental, the Dealer Manager, the Information and Tender Agent or the trustee with respect to the Notes makes any recommendation as to whether holders should tender or refrain from tendering their Notes. Holders must make their own decision as to whether to tender Notes and, if so, the principal amount of the Notes to tender.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/banco-continental-commences-tender-offer-for-2017-senior-notes-300295837.html
SOURCE Banco Continental S.A.E.C.A.