CLISA Releases Final Tender Results

BUENOS AIRES, Argentina, July 29, 2016 /PRNewswire/ -- CLISA (the "Purchaser") today announced the final results in connection with the previously announced tender offer for cash (the "Tender Offer") for any and all of the outstanding U.S.$87,106,000 11.50% Series 4 Notes due 2019 issued by CLISA and guaranteed by Cliba Ingeniería Ambiental S.A. and Benito Roggio e Hijos S.A. (ISIN XS1116464220) (the "Notes") and related consent solicitation (the "Consent Solicitation") according to which it solicited from holders of Notes (the "Holders") consents (the "Consents") to certain proposed amendments (the "Proposed Amendments") to the terms and conditions of the Notes (the "Conditions"), which are expected to make the covenants of the Notes substantially consistent with the covenants of the New Notes (as described in the tender offer and consent solicitation statement, dated 29 June, 2016 (the "Offer and Consent Statement")).  The Consent Solicitation, together with the Tender Offer, is referred to as the "Offer".  The deadline for the Tender Offer and the Consents occurred on 28 July, 2016 at 04:59 hours Central European Time (the "Expiration Time").

The Purchaser has been advised that, as of the Expiration Time, U.S.$69,504,852 in aggregate principal amount of the Notes, or approximately 79.79% of the outstanding Notes, had been validly tendered pursuant to the Tender Offer, with related Consents delivered pursuant to the Consent Solicitation.  The Purchaser has been further advised that, as of the Expiration Time, an additional U.S.$12,366,000 in aggregate principal amount of the Notes, or approximately 14.20% of the outstanding Notes, had validly submitted a Consent Only Instruction (as described in the Offer and Consent Statement) pursuant to the Consent Solicitation.  The Purchaser intends to pay for all Notes validly tendered and related consents delivered and accepted for purchase pursuant to the Offer on or about August 5, 2016 (the "Settlement Date").

The terms and conditions of the Offer, as well as the Proposed Amendments, are described in the Offer and Consent Statement, previously distributed to the Holders.

Holders whose Notes have been validly tendered prior to the Expiration Time and which are not validly withdrawn or revoked and are accepted by CLISA, are entitled to receive the Tender Offer Consideration (as described in the Offer and Consent Statement), plus accrued and unpaid interest up to, but not including, the Settlement Date for the Notes.  Holders whose Notes have been validly tendered prior to the Early Tender Time (as described in the Offer and Consent Statement), and which are not validly withdrawn or revoked and are accepted by CLISA, are also entitled to receive the Early Tender Premium (as described in the Offer and Consent Statement) for the Notes.  Holders whose Consent Only Instructions have been validly delivered prior to the Early Tender Time, and which are not validly withdrawn or revoked and are accepted by CLISA, are entitled to receive the Early Consent Premium (as described in the Offer and Consent Statement). 

The Purchaser has received the requisite consents for the amendment of the Notes, and the Proposed Amendments will be approved at a meeting of Holders to be held at the offices of CLISA at 10:00 hours (City of Buenos Aires time) on 4 August 2016, as set forth in the Offer and Consent Statement.  Accordingly, the Purchaser will enter into an amendment to the Pricing Supplement (as described in the Offer and Consent Statement).  Any Notes not tendered and purchased pursuant to the Tender Offer will remain outstanding and will be governed by the Conditions (as described in the Offer and Consent Statement) of the Notes, as amended by the amendment to the Pricing Supplement.

Notwithstanding any other provision of the Offer and Consent Statement, CLISA's acceptance of the Offer from Holders is conditional upon satisfaction of the General Conditions (as described in the Offer and Consent Statement).

In addition, subject to applicable law and as provided for in the Offer and Consent Statement, CLISA may, in its sole discretion, extend, reopen, amend, waive any condition of, terminate or withdraw the Offer at any time prior to its announcement of whether it will accept valid offers to tender Notes and delivery of related Consents or Consent Only Instructions pursuant to the Offer.

Information Relating to the Offer

BCP Securities, LLC and Santander Investment Securities Inc. are acting as the Dealer Managers and Solicitation Agents with respect to the Tender Offer and the Consent Solicitation and Banco Santander Río S.A. is acting as the Argentine Dealer and Solicitation Agent.  Investors with questions may contact BCP Securities, LLC at +1 203 629 2181, Santander Investment Securities Inc. at + 1 212 940 1442 (Collect) or +1 855 404 3636 (Toll Free) and Banco Santander Río S.A. at +54 11 4341 1033.

D.F. King has been appointed as Information and Tender Agent. All questions to the Information and Tender Agent should be directed to email: [email protected] or telephone: +44 20 7920 9700.

Copies of the Offer and Consent Statement may be found for consultation through the Financial Information Highway or at the Offer Website: https://sites.dfkingltd.com/clisa.

This press release is neither an offer to sell nor a solicitation of offers to buy any securities. The Tender Offer and the Consent Solicitation are being made only pursuant to the Offer and Consent Statement.

Neither the Offer and Consent Statement nor any related document has been filed with the U.S. Securities and Exchange Commission, nor has any such document 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 and Consent Statement nor any related document, and it is unlawful and may be a criminal offence to make any representation to the contrary.

This press release is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consents.  The Tender Offer and Consent Solicitation are being made solely pursuant to the Offer and Consent Statement.  The Tender Offer and Consent Solicitation are not being made to, nor will the Purchaser accept tenders of Notes and deliveries of consents from, holders in any jurisdiction in which the Tender Offer and the Consent Solicitation or the acceptance thereof would not be in compliance with the securities or blue sky or other laws of such jurisdiction.

About the Purchaser

CLISA is a leading Argentine infrastructure manager and developer with over 100 years of experience.  It is currently organised along four principal business segments:  (i) construction and toll road concessions, (ii) waste management, (iii) transportation and (iv) water supply services.  It also engages in other minor business operations, such as health care management services. However, CLISA derives substantially all of its consolidated sales from the operations of its waste management, construction and toll road concessions and transportation segments.

Forward-Looking Statements

This press release contains certain "forward-looking" statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes to differ materially from current expectations. These statements are likely to relate to, among other things, the Purchaser's current beliefs, expectations and projections about future events and financial trends affecting the Purchaser's business. Any of such forward-looking statements are not guarantees of future performance and may involve risks and uncertainties, and that actual results may differ from those set forth in the forward-looking statements as a result of various factors (including, without limitations, the actions of competitors, future global economic conditions, market conditions, foreign exchange rates, and operating and financial risks related to managing growth and integrating acquired businesses), many of which are beyond the control of the Purchaser. The occurrence of any such factors not currently expected by the Purchaser would significantly alter the results set forth in these statements.  The Purchaser expressly disclaims a duty to update any of the forward-looking statements.

Contact:

CLISA - COMPAÑÍA LATINOAMERICANA DE INFRAESTRUCTURA & SERVICIOS S.A.

Leandro N. Alem 1050 – piso 9º
C1001AAS City of Buenos Aires
Argentina
Tel.: +54 11 6091 7300
Fax: +54 11 6091 7301

SOURCE CLISA - Compania Latinoamericana de Infraestructura & Servicios S.A.