MEXICO CITY, Aug. 10, 2016 /PRNewswire/ -- Financiera Independencia, S.A.B. de C.V., Sociedad Financiera de Objeto Multiple, Entidad No Regulada (the "Company" or "FINDEP") today announced the final results of its offer to purchase for cash (the "Tender Offer") its outstanding 7.500% Senior Notes due 2019 (the "Notes"), on the terms set forth in the Offer to Purchase, dated July 13, 2016 (the "Offer to Purchase").
The Company has been advised that as of 11:59 p.m., New York City time, on August 9, 2016 (the "Expiration Time"), $80,063,000 in aggregate principal amount of the Notes, representing approximately 40% of the outstanding Notes, were validly tendered by holders of Notes (the "Holders") (and not validly withdrawn) pursuant to the Tender Offer. The Company will accept for purchase all Notes validly tendered (and not validly withdrawn) at or prior to the Expiration Time, with such payment date expected to be on August 12, 2016 (the "Settlement Date").
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 accepted by the Company for purchase 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").
Barclays Capital Inc. ("Barclays") and BCP Securities, LLC ("BCP Securities") acted 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.
Neither the Offer to Purchase nor any related documents were filed with the Comisión Nacional Bancaria y de Valores ("CNBV") of Mexico or the U.S. Securities and Exchange Commission ("SEC"), nor were any such documents filed with or reviewed by any federal or state securities commission or regulatory authority of any country. No authority was 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.
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.
About Financiera Independencia
Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R., is a Mexican institution that provides microcredit loans on an unsecured basis to individuals in the low-income segments in urban areas of both the formal and self-employed economy and working capital loans through group lending microfinance in rural areas. As of June 30th, 2016, FINDEP had a total outstanding loan balance of Ps.7,014.2 million, operated 566 offices in Mexico, Brazil, and the US and had a total labor force of 10,081 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.
Media Contact: Tom Long, 212-269-5550
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SOURCE Financiera Independencia, S.A.B. de C.V.