Capex Announces The Results And Acceptance Of The Cash Tender Offer For Any And All Of Its Outstanding 10.00% Notes Due 2018

BUENOS AIRES, Argentina, May 10, 2017 /PRNewswire/ -- Capex S.A. (the "Purchaser") today announced the tender results and acceptance of its previously-announced offer to purchase for cash from holders (each, a "Holder" and, collectively, the "Holders") any and all of its outstanding 10.00% Notes due 2018 (the "Notes") issued under the indenture dated as of March 10, 2011 (the "Offer").

The Offer expired at 8:00 a.m., New York City time, on May 10, 2017 (such date and time, the "Expiration Time").

The Purchaser has been advised that, as of the Expiration Time, U.S.$51,126,000 in aggregate principal amount of Notes, or approximately 25.56% of the Notes outstanding, have been validly tendered and not validly withdrawn pursuant to the Offer.  The Purchaser has accepted for payment all Notes validly tendered.

Notes accepted for purchase will be paid in full as described below by the Purchaser on May 15, 2017 (the "Settlement Date"). The Settlement Date in respect of Notes with respect to which a properly completed and duly executed notice of guaranteed delivery (the "Notice of Guaranteed Delivery") was delivered at or prior to the Expiration Time (to the extent that such Notes were not delivered prior to the Expiration Time) that were accepted by the Purchaser for purchase in the Offer will be May 15, 2017 (the "Guaranteed Delivery Settlement Date").

The Offer was made by the Purchaser pursuant to the offer to purchase dated May 2, 2017 (the "Offer to Purchase") and the related letter of transmittal (the "Letter of Transmittal") and Notice of Guaranteed Delivery (together with the Offer to Purchase and Letter of Transmittal, the "Offer Documents"). The Purchaser intends to finance the purchase of the Notes with the proceeds of the expected concurrent issuance, subject to customary closing conditions, of its U.S.$300,000,000 6.875% Notes due 2024 (the "New Notes").

The table below summarizes certain payment terms for the Notes and the aggregate principal amount of Notes to remain outstanding:

________________

*  Per U.S.$1,000 principal amount of Notes. In addition, Holders will receive Accrued Interest.

Holders who had validly tendered and not withdrawn their Notes at or before the Expiration Time are entitled to receive U.S.$1,004.17 per U.S.$1,000 principal amount of the Notes (the "Total Consideration"), on the Settlement Date. In addition, Holders whose Notes are purchased in the Offer will receive accrued and unpaid interest in respect of their purchased Notes from the last interest payment date to, but excluding, the Settlement Date ("Accrued Interest"). For the avoidance of doubt, accrued interest will cease to accrue on the Settlement Date for all Notes accepted in the Offer, including those tendered by the guaranteed delivery procedures set forth in the Offer to Purchase.

The obligation of the Purchaser to accept for purchase, and to pay for, Notes validly tendered pursuant to the Offer, or Notes with respect to which a properly completed and duly executed Notice of Guaranteed Delivery is delivered at or prior to the Expiration Date, is subject to, and conditioned upon, the satisfaction or waiver of certain conditions as set forth in the Offer Documents, including the issue of the New Notes, in the sole discretion of the Purchaser. The terms and conditions of the Offer are described in the Offer Documents previously distributed to the Holders.

The Information and Tender Agent for the Offer is Global Bondholder Services Corporation. To contact the Information and Tender Agent, banks and brokers may call +1-212-430-3774, and others may call U.S. toll-free: 866-470-4200. Additional contact information is set forth below.

Any questions or requests for assistance or for additional copies of this notice or the Offer to Purchase may be directed to Deutsche Bank Securities, Inc. and J.P. Morgan Securities LLC (together, the "Dealer Managers") at their respective telephone numbers set forth below or, if by any Holder, to such Holder's broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offer.

The Dealer Managers for the Offer are:

This notice does not constitute or form part of any offer or invitation to purchase, or any solicitation of any offer to sell, the Notes or any other securities in the United States or any other country, nor shall it or any part of it, or the fact of its release, form the basis of, or be relied on or in connection with, any contract therefor. The Offer is made only by and pursuant to the terms of the Offer Documents, and the information in this notice is qualified by reference to the Offer Documents.

The Offer Documents are also available at www.gbsc-usa.com/Capex/

Forward-Looking Statements
This notice includes and references "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may relate to, among other things, the Purchaser's business strategy, goals and expectations concerning its market position, future operations, margins and profitability.

Although the Purchaser believes the assumptions upon which these forward-looking statements are based are reasonable, any of these assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect.

The matters discussed in these forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results and trends to differ materially from those made, intended, or implied in or by the forward-looking statements depending on a variety of uncertainties or other factors.

The Purchaser undertakes no obligation to update any of its forward-looking statements.

SOURCE Capex S.A.