The deadline for holders of Notes (the "Holders") to validly tender Notes and be eligible to receive payment of the Total Consideration, which includes the Early Tender Payment, has been extended until 11:59 p.m., New York City time, on August 9, 2016, which is the same time and date that the Tender Offer will expire (the "Expiration Time"), unless extended by the Company. Notes tendered at or prior to 5:00 p.m., New York City time, on July 26, 2016 may no longer be withdrawn, and Notes tendered prior to the Expiration Time may not be withdrawn, in each case unless required by applicable law.
The total consideration to be paid to the Holders for each U.S.$1,000 principal amount of Notes validly tendered at or prior to the Expiration Time and not validly withdrawn will be U.S.$1,000.00 (the "Total Consideration"). The Total Consideration includes an early tender payment of U.S.$50.00 per U.S.$1,000 principal amount of Notes (the "Early Tender Payment"). In addition, the Company will pay accrued and unpaid interest on the principal amount of Notes accepted for purchase from the most recent interest payment date on the Notes to, but not including, the Settlement Date ("Accrued Interest").
If the purchase of all validly tendered Notes at or prior to the Expiration Time would cause the Company to purchase a principal amount greater than the Maximum Payment Amount set forth above, then the Tender Offer will be oversubscribed and the Company, if it accepts any Notes in the Tender Offer, will accept for purchase tendered Notes on a prorated basis as described in the Offer to Purchase.
The Company's obligation to accept for purchase, and to pay for, Notes validly tendered and not validly withdrawn pursuant to the Tender Offer is conditioned upon the satisfaction or, when applicable, waiver of certain conditions, which are more fully described in the Company's Offer to Purchase, including, among others, a financing condition as described in the Offer to Purchase.
In addition, subject to applicable law, the Company reserves the right, in its sole discretion, to (i) extend, terminate or withdraw the Tender Offer at any time or (ii) otherwise amend the Tender Offer in any respect at any time and from time to time. The Company is making the Tender Offer only in those jurisdictions where it is legal to do so.
Barclays Capital Inc. ("Barclays") and BCP Securities, LLC ("BCP Securities") are acting as dealer managers for the Tender Offer. Questions regarding the Tender Offer may be directed to Barclays at +1 (800) 438-3242 (toll free) or +1 (212) 528-7581 (collect) and BCP Securities at +1 (203) 629-2181.
Copies of the Offer to Purchase are available to Holders of Notes from D.F. King & Co., Inc., the information agent for the Tender Offer. Requests for copies of the Offer to Purchase should be directed to D.F. King at + 1 (877) 842-1616 (toll free), +1 (212) 269-5550 (collect) or email@example.com.
Neither the Offer to Purchase nor any related documents have been filed with the Comisión Nacional Bancaria y de Valores ("CNBV") of Mexico or the U.S. Securities and Exchange Commission ("SEC"), nor have any such documents been filed with or reviewed by any federal or state securities commission or regulatory authority of any country. No authority has passed upon the accuracy or adequacy of the Offer to Purchase or any related documents, and it is unlawful and may be a criminal offense to make any representation to the contrary.
The Tender Offer is being made solely on the terms and conditions set forth in the Offer to Purchase. Under no circumstances shall this press release constitute an offer to buy or the solicitation of an offer to sell the Notes or any other securities of the Company. No recommendation is made as to whether holders of Notes should tender their Notes. Holders of Notes should carefully read the Offer to Purchase because it contains important information, including the various terms and conditions of the Tender Offer.
About Financiera Independencia
FINDEP is a Mexican microfinance lender of personal loans to individuals and working capital loans through group lending microfinance. FINDEP provides microcredit loans on an unsecured basis to individuals in the low-income segments in Mexico, Brazil and the U.S. in urban and rural areas of both the formal and self-employed economy. As of March 31, 2016, FINDEP had a total outstanding loan balance of Ps.6,889.1 million, operated 561 offices in Mexico, Brazil and the U.S. and had a total labor force of 10,128 people. The Company listed on the Mexican Stock Exchange on November 1, 2007, where it trades under the symbol "FINDEP". On November 30, 2009 FINDEP launched a sponsored Level I American Depositary Receipt (ADR) program in the United States. Each ADR represents 15 shares of FINDEP common stock and trades over-the-counter (OTC).
Important Notice Regarding Forward-Looking Statements
This press release contains certain forward-looking statements. Statements that are not historical facts, including statements about the Company's perspectives and expectations, are forward-looking statements. The words "expect," "believe," "estimate," "intend," "plan" and similar expressions, when related to the Company and its affiliates, indicate forward-looking statements. These statements reflect the current view of management and are subject to various risks and uncertainties. These statements are based on various assumptions and factors, including general economic, market, industry and operational factors. Any changes to these assumptions or factors may lead to practical results different from current expectations. Excessive reliance should not be placed on those statements. Forward-looking statements relate only to the date they were made and the Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/financiera-independencia-sab-de-cv-sociedad-financiera-de-objeto-multiple-entidad-no-regulada-announces-extension-of-early-tender-deadline-and-early-tender-results-as-of-the-original-early-tender-deadline-of-tender-offer--300304551.html
SOURCE Financiera Independencia, S.A.B. de C.V.