Docuformas, S.A.P.I. De C.V. Announces Commencement of Consent Solicitation in Relation to Its Outstanding 9.250% Senior Notes Due 2022

MEXICO CITY, Jan. 17, 2019 /PRNewswire/ -- Docuformas, S.A.P.I. de C.V. ("Docuformas") announced that, effective January 16, 2019, it is seeking to amend the indenture, dated as of October 11, 2017 (the "Indenture"), by and between Docuformas, certain subsidiaries of Docuformas, as guarantors (the "Guarantors"), and U.S. Bank National Association, as trustee (the "Trustee"), governing its outstanding 9.250% Senior Notes due 2022 (CUSIP/ISIN Nos. 25615WAA1/US25615WAA18 and P36035AA4/USP36035AA46) (the "Notes"). The solicitation will seek approval by the holders of Notes of amendments (the "Proposed Amendments") to the Indenture which would modify the "Limitation on Indebtedness" covenant and the definition of "Permitted Liens" in order to align the covenant package with indentures governing notes recently issued by comparable companies. In order to implement the Proposed Amendments, Docuformas and the Trustee will enter into a supplemental indenture (the "Supplemental Indenture") to the Indenture.

For the purpose described above, Docuformas has commenced a solicitation of the holders of the Notes to consent to the Proposed Amendments. The solicitation of consents ("Consents") to the Proposed Amendments with respect to the Notes (the "Consent Solicitation") is being made through Docuformas' Consent Solicitation Statement dated as of January 16, 2019 (the "Consent Solicitation Statement"). Holders of Notes are referred to the Consent Solicitation Statement for detailed terms and conditions of the Consent Solicitation. The Consent Solicitation will expire at 5:00 p.m. (New York City time) on January 25, 2019 (the "Expiration Time"), unless extended or earlier terminated by Docuformas in its sole discretion.

Subject to certain conditions, Docuformas is offering to pay to the Holders a consent fee of U.S.$5.00 per U.S.$1,000 principal amount of the Notes in respect of which the Consents have been validly delivered and not validly revoked pursuant to the terms of the Consent Solicitation Statement.

The Proposed Amendments will become effective once holders of more than 50% of the then outstanding Notes have submitted (and not validly revoked) their Consents and the Company, the Guarantors and the Trustee enter into the Supplemental Indenture to the Indenture, as more fully described in the Consent Solicitation Statement. The Supplemental Indenture will only become operative upon payment of the consent fee to the Information and Tabulation Agent and the satisfaction or waiver of other conditions, as more fully described in the Consent Solicitation Statement.

Docuformas has engaged UBS Investment Bank (the "Solicitation Agent") to act as solicitation agent for the Consent Solicitation.  D. F. King & Co., Inc. has been engaged to act as the Information and Tabulation Agent (the "Information and Tabulation Agent") for the Consent Solicitation. Any questions or requests for assistance regarding the Consent Solicitation may be made to UBS Investment Bank at (888) 719-4210 (U.S. toll-free) or (203) 719-4210 (collect). Questions or requests for assistance or additional copies of the Consent Solicitation Statement and any related documents may be directed to D. F. King & Co., Inc. at [email protected] or at (877) 732-3617 (U.S. toll free) or (212) 269-5550 (collect). Copies of the Consent Solicitation Statement and any related documents are available at 48 Wall Street, 22nd Floor, New York, New York, 10005, or at [email protected].

Forward-Looking Statements

Docuformas cautions you that statements included in this announcement that are not a description of historical facts are forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause Docuformas' results to differ materially from historical results or those expressed or implied by such forward-looking statements. There can be no assurance that the transactions contemplated in this announcement will be completed. Docuformas assumes no obligation to update any forward-looking statement included in this announcement to reflect events or circumstances arising after the date on which it was made.

The Solicitation Agent takes no responsibility for the contents of this announcement. This announcement must be read in conjunction with the Consent Solicitation Statement. This announcement and the Consent Solicitation Statement contain important information which should be read carefully before any decision is made in connection with the Proposed Amendments. If you are in any doubt as to the action you should take, you are recommended to seek your own financial advice immediately from your stockbroker, bank manager, accountant or other independent financial adviser. 

None of Docuformas, the Solicitation Agent, the Trustee or the Information and Tabulation Agent makes any recommendation as to whether or not holders of Notes should consent to the Proposed Amendments. This press release is for informational purposes only and is not a solicitation of consents. The Consent Solicitation is only being made pursuant to the Consent Solicitation Statement. The Consent Solicitation is subject to certain conditions and present certain significant considerations for holders of Notes who consent, as set forth more fully in the Consent Solicitation Statement. Docuformas reserves the right to waive or modify any term of, or to terminate, the Solicitation, for any reason, prior to the applicable Expiration Time.

This press release is neither an offer to sell nor a solicitation of an offer to buy any security. The securities described herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and they may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. 

About Docuformas

Docuformas is the one of the largest independent leasing company in Mexico, when compared to the companies that report information to AMSOFAC. Docuformas specializes in providing financing solutions for the acquisition of productive assets and equipment by mostly small and medium-sized enterprises. Substantially all of Docuformas' assets and properties are located in Mexico and substantially all of Docuformas' revenues derive from its business operations in Mexico.

SOURCE Docuformas, S.A.P.I. de C.V.