BUENOS AIRES, Argentina and GEORGE TOWN, Grand Cayman, July 26, 2011 /PRNewswire/ -- Caue Finance Limited ("Caue Finance") and Loma Negra Compania Industrial Argentina S.A. ("Loma Negra" and, together with Caue Finance, the "Issuers"), each an indirect subsidiary of Camargo Correa S.A., announced today that, pursuant to their previously announced cash tender offers and consent solicitations (the "Offers") for any and all of Caue Finance's outstanding 8.875% Notes due 2015 (the "2015 Notes") and Loma Negra's outstanding 7.25% Notes due 2013 (the "2013 Notes" and, together with the 2015 Notes, the "Notes"), holders of US$106,328,000 in aggregate principal amount of the 2015 Notes and US$55,212,000 in aggregate principal amount of the 2013 Notes, representing approximately 70.9% and approximately 55.2%, respectively, of the applicable outstanding Notes, had validly tendered (and not validly withdrawn) their applicable Notes and delivered the related consents on or prior to 8:00 a.m., New York City time, on July 26, 2011 (the "Expiration Date").
The full terms and conditions of each Offer are described in the Offer to Purchase and Consent Solicitation Statement, dated June 27, 2011, and the related Letter of Transmittal and Consent (together, the "Tender Offer Documents") previously distributed to holders of the Notes. Holders of Notes who tendered their Notes prior to the Expiration Date (and not validly withdrew) are eligible to receive the applicable purchase price described in the Tender Offer Documents, plus accrued and unpaid interest up to, but not including, the payment date. The Issuers intend to pay for all Notes validly tendered and accepted for purchase pursuant to the Offers on the payment date, which is expected to occur on or about July 28, 2011.
Each Issuer solicited consents in order to eliminate substantially all restrictive covenants and certain event of default provisions contained in the indenture governing its respective Notes (the "Proposed Amendments"). As of the Expiration Date, Caue Finance had received the requisite consents to implement the Proposed Amendments. At a meeting of holders of the 2013 Notes held on July 26, 2011, Loma Negra received the requisite consents from holders of the 2013 Notes to implement the Proposed Amendments. Supplemental indentures containing the Proposed Amendments have been executed for both series of Notes. Any Notes not tendered and purchased pursuant to the applicable Offer will remain outstanding and will be governed by the terms of the applicable indenture, as amended by the Proposed Amendments.
BofA Merrill Lynch acted as the dealer manager and solicitation agent and D.F. King & Co., Inc. served as information agent and tender agent for the Offers. Questions regarding the terms of the Offers should be directed to BofA Merrill Lynch at (888) 292-0070 (toll-free) and (646) 855-3401. In addition, questions regarding the terms of the Offer with respect to the 2013 Notes can be directed to Loma Negra at its offices located at Reconquista 1088, Autonomous City of Buenos Aires (C1003ABV), Argentina, telephone number +54-11 4319 3000.
This announcement is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consents.
This press release contains forward-looking statements. Forward-looking statements are only predictions and are not guarantees of future performance. Investors are cautioned that any such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Issuers that may cause the actual results to be materially different from any future results expressed or implied in such forward-looking statements.
Although the Issuers believe that the expectations and assumptions reflected in the forward-looking statements are reasonable based on information currently available to the management of the Issuers, the Issuers cannot guarantee future results or events. The Issuers expressly disclaim a duty to update any of the forward-looking statements.
SOURCE Caue Finance Limited and Loma Negra Compania Industrial Argentina S.A.