Compañía General de Combustibles S.A. Announces the Termination of its Tender Offer for 9.500% Notes Due 2021

BUENOS AIRES, Argentina, Aug. 1, 2019 /PRNewswire/ -- Compañía General de Combustibles S.A. ("CGC") announced today that it has terminated its previously announced tender offer (the "Offer") to purchase for cash any and all of its 9.500% notes due 2021 (CUSIP: 20448Q AA8, P3063D AA0 / ISIN: US20448QAA85, USP3063DAA02) (the "Notes").  All Notes tendered in the Offer will be returned promptly to the respective holders thereof without any action required on the part of the holders. No consideration will be paid in the Offer for any tendered Notes.

The Offer was subject to the conditions set forth in the offer to purchase, dated July 25, 2019 (the "Statement") and the related notice of guaranteed delivery, which contain detailed information concerning the terms of the Offer.  These conditions included, among others, CGC obtaining available funds sufficient to pay the tender offer consideration with respect to all Notes to be accepted for payment, plus accrued and unpaid interest, and additional amounts, if any, which condition could be satisfied by the completion of a Financing Transaction (as defined in the Statement). 

The Offer is being terminated by the Company because the Financing Condition has not been satisfied.  This press release confirms the termination of the Offer.

DISCLAIMER:

This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any securities.  The Offer is being made only pursuant to the Offer Documents, copies of which will be delivered to Holders of Notes. 

THE OFFER DOCUMENTS SHOULD BE READ CAREFULLY BEFORE A DECISION IS MADE WITH RESPECT TO THE OFFER. NONE OF THE COMPANY, THE DEALER MANAGER, THE INFORMATION AGENT, THE TENDER AGENT, OR THE TRUSTEE MAKES ANY RECOMMENDATION AS TO WHETHER OR NOT HOLDERS OF NOTES SHOULD TENDER THEIR NOTES.

The Offer does not constitute, and may not be used in connection with, an offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is not permitted by law or in which the person making such offer or solicitation is not qualified to do so or to any person to whom it is unlawful to make such offer or solicitation.

In any jurisdiction where the securities, blue sky or other laws require tender offers to be made by a licensed broker or dealer and in which the dealer manager, or any affiliates thereof, are so licensed, the Offer will be deemed to have been made by any such dealer manager, or such affiliates, on behalf of the Company.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements.  Forward-looking statements are information of a non-historical nature or which relate to future events and are subject to risks and uncertainties.  No assurance can be given that the transactions described herein will be consummated or as to the ultimate terms of any such transactions.  CGC undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason.

The Offer shall be available online at https://www.gbsc-usa.com/cgc until the consummation or termination of the Offer.

SOURCE Compañía General de Combustibles S.A.