Ferreycorp S.A.A. Announces Tender Results and Expected Settlement of its Tender Offer for the Outstanding 4.875% Senior Guaranteed Notes due 2020

LIMA, Peru, June 23, 2016 /PRNewswire/ -- Ferreycorp S.A.A., a company organized as a sociedad anónima abierta under the laws of the Republic of Peru ( "Ferreycorp"), today announced the tender results and settlement of its previously announced offer to purchase (the "Tender Offer") for cash up to U.S.$120,000,000 aggregate principal amount (the "Maximum Tender Amount") of its outstanding 4.875% Senior Guaranteed Notes due 2020 (the "Notes"), upon the terms and subject to the conditions described in the Offer to Purchase dated May 25, 2016 (the "Offer to Purchase") and the accompanying Letter of Transmittal dated May 25, 2016 (, the "Letter of Transmittal" and, together with the Offer to Purchase, in each case, as amended and supplemented by the press release dated June 9, 2016, the "Offer Documents").

The Tender Offer expired at 11:59 p.m., New York City time, on June 22, 2016 (such date and time, the "Expiration Date"). The early tender and withdrawal deadline for the Offer to Purchase was 5:00 p.m., New York City time, on June 8, 2016 (such date and time, the "Early Tender Date" and "Withdrawal Deadline").

Ferreycorp has been advised that, as of the Expiration Date, U.S.$208,760,000 in aggregate principal amount of Notes, or approximately 73.94% of the Notes outstanding, have been validly tendered and not validly withdrawn pursuant to the Tender Offer. As more than the Maximum Tender Amount of Notes has been validly tendered and not withdrawn, Ferreycorp has accepted for purchase U.S.$120,000,000 of the Notes, prorated in the manner stipulated in the Offer Documents. In accordance with the Offer Documents, Ferreycorp has decided to accept in full the Notes tendered, the proration of which would have resulted in a return of Notes to a tendering holder in a principal amount below the minimum denomination.

The Tender Consideration or the Total Consideration, including the Early Tender Premium, as applicable, for Notes accepted for purchase is expected to be paid by Ferreycorp on June 24, 2016 (the "Settlement Date"). Notes which are not accepted due to proration will be promptly returned to Holders.

The table below summarizes certain payment terms of the Tender Offer and the aggregate principal amount of the Notes to remain outstanding following the Settlement Date:

*  Per U.S.$1,000 principal amount of Notes.

Holders who had validly tendered their Notes after the Early Tender Date but prior to or at the Expiration Date and did not validly withdraw their Notes prior to or at the Withdrawal Deadline, and such Notes are accepted for purchase, will receive the Tender Offer Consideration of U.S.$992.50 for each U.S.$1,000.00 principal amount of the Notes in addition to accrued and unpaid interest in respect of their purchased Notes from the last interest payment date to, but not including, the Settlement Date.

Holders who had validly tendered their Notes prior to or at the Early Tender Date and did not validly withdraw such Notes prior to or at the Withdrawal Deadline, and whose Notes are accepted for purchase, will receive the Total Consideration of U.S.$1,022.50 for each U.S.$1,000 principal amount of the Notes, which includes the Early Tender Premium of U.S.$30.00 per U.S.$1,000 principal amount of the Notes, in addition to accrued and unpaid interest in respect of their purchased Notes from the last interest payment date to, but not including, the Settlement Date.

The terms and conditions of the Tender Offer are described in the Offer Documents.

This announcement is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of tenders with respect to any Notes or other securities. The Tender Offer has been made solely pursuant to the Offer Documents, copies of which were delivered to holders of the Notes, and which set forth the complete terms and conditions of the Tender Offer.

The Tender Offer was not an offer to purchase the Notes in any jurisdiction in which, or to or from any person to or from whom, it was unlawful to make such offer under applicable securities or "blue sky" laws.

Neither the delivery of this announcement, the Offer Documents nor any purchase pursuant to the Tender Offer shall under any circumstances create any implication that the information contained in this announcement or the Offer Documents is correct as of any time subsequent to the date hereof or thereof or that there has been no change in the information set forth herein or therein or in Ferreycorp's affairs since the date hereof or thereof.

D. F. King & Co., Inc. is acting as the tender agent and as the information agent (the "Tender and Information Agent") for the Tender Offer. J.P. Morgan Securities LLC is acting as Dealer Manager (the "Dealer Manager") for the Tender Offer.

For further information about the Tender Offer, please log-into the website www.dfking.com/ferreycorp. Alternatively, please contact the Tender and Information Agent D.F. King & Co., Inc., Attn: Peter Aymar, at 48 Wall Street, 22nd Floor, New York, NY 10005, telephone number: (877) 478-5041 (toll-free), (212) 269-5550 (collect) or email [email protected]. Requests for documentation should be directed to the Tender and Information Agent.

SOURCE Ferreycorp S.A.A.

Related Links

http://www.dfking.com/ferreycorp