Grupo Papelero Scribe, S.A. de C.V. Announces Successful Receipt of Requisite Consents With Respect to its 8.875% Senior Guaranteed Notes Due 2020

MEXICO CITY, Sept. 24, 2014 /PRNewswire/ -- Grupo Papelero Scribe, S.A. de C.V. (the "Company") announced today that it has received the requisite consents from the holders of a majority in principal outstanding amount of its 8.875% Senior Guaranteed Notes due 2020 (the "Notes") as of 5:00 p.m., New York City time, on September 23, 2014, pursuant to the Company's previously announced consent solicitation (the "Solicitation") dated September 12, 2014.

As a result of receiving the requisite consents, the Company has executed a supplemental indenture to the indenture governing the Notes.  The effectiveness of the amendment set out in the Solicitation and the payment of the consent fee (the "Consent Fee") of $10.00 in cash for each $1,000 principal amount of Notes to the consenting holders are subject to the satisfaction or waiver by the Company of the conditions of the Solicitation, including the consummation of the transactions contemplated by the Contrato de Compraventa de Acciones (Stock Purchase Agreement), dated as of August 21, 2014, by and among the Company, Deutsche Bank Mexico, S.A. Institucion de Banca Multiple, Division Fiduciaria, as trustee of Administrative Trust No. F/442, dated as of September 5, 2006 (the "Seller"), Grupo Bio Pappel, S.A. de C.V. (the "Buyer"), and Corporacion Scribe, S.A.P.I. de C.V. (the "Corporation"), pursuant to which the Seller will sell and transfer to the Buyer, and the Buyer will acquire from the Seller, all of the then outstanding ordinary shares of the Corporation and all of the then outstanding ordinary shares of the Company (the "Acquisition").  The Company anticipates completing the Acquisition in the fourth quarter of 2014, subject to the satisfaction of the closing conditions contained in the Stock Purchase Agreement.

Credit Suisse Securities (USA) LLC acted as Solicitation Agent with respect to the Solicitation.

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities.

Forward-Looking Statements

Some of the statements in this press release constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Words such as "believe", "anticipate", "plan", "expect", "intend", "target", "estimate", "project", "forecast", "guideline", "should" and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying those statements.  Specific forward-looking statements include, among others, statements as to the Acquisition, the proposed amendment contemplated by the Solicitation and the expected payment of the Consent Fee. 

You should not place undue reliance on forward-looking statements, which are based on current expectations. Forward-looking statements are not guarantees of performance.  They involve risks, uncertainties and assumptions. All forward-looking statements in this press release are made as of the date hereof, based on information available to us as of such date, and we assume no obligation to update any forward-looking statement.

SOURCE Grupo Papelero Scribe, S.A. de C.V.