Grupo Petrotemex Announces the Final Results of its Tender Offer and Consent Solicitation for its Outstanding 9.500% Senior Notes Due 2014
MEXICO CITY, Aug. 13, 2012 /PRNewswire/ -- GRUPO PETROTEMEX, S.A. DE C.V. (the "Company") announced the final results of its offer to purchase (the "Tender Offer") any and all of its outstanding 9.500% Senior Notes due 2014 (the "Existing Notes") and solicitation of consents (the "Consents") to amend the indenture dated as of August 19, 2009 relating to the Existing Notes (the "Consent Solicitation") upon the terms and conditions set forth in the Offer to Purchase and Consent Solicitation Statement dated as of July 13, 2012 (the "Offer to Purchase"). The Tender Offer and Consent Solicitation expired at 5:00 P.M., New York City time, on August 10, 2012 (the "Expiration Time").
The Company has been advised by the information agent that as of the Expiration Time, U.S. $154,173,000 in aggregate principal amount of the Existing Notes, or approximately 56.06%, had been validly tendered and not validly withdrawn pursuant to the Tender Offer, including U.S. $153,573,000, or approximately 55.84%, of the Notes that were tendered and not withdrawn as of 5:00 P.M., New York City time, on July 27, 2012 (the "Early Tender and Consent Time"). In addition, as previously announced, the Company had obtained Consents to the Proposed Amendments (as defined in the Offer to Purchase) from holders representing a majority in aggregate principal amount of Existing Notes and, as a result, had entered into the fourth supplemental indenture dated as of August 1, 2012. The Company has accepted for purchase all Notes validly tendered and not withdrawn pursuant to the Tender Offer and Consent Solicitation.
Payment for all Existing Notes validly tendered after the Early Tender and Consent Time and at or prior to the Expiration Time and accepted by the Company will be made on the business day the Company selects promptly following the Expiration Time (the "Final Settlement Date"). The Company expects the Final Settlement Date to be on or about August 15, 2012.
On the Final Settlement Date, in the case of Existing Notes tendered and related Consents delivered after the Early Tender and Consent Time, but at or prior to the Expiration Time, the Company will cause holders who validly tendered and did not validly withdraw their Notes prior to or at the Expiration Time to receive an amount consisting of U.S. $1,100 plus accrued and unpaid interest, from the last interest payment date preceding the Tender Offer to, but not including, the Final Settlement Date for such Notes.
J.P. Morgan Securities LLC (telephone: 1-866-846-2874) is the dealer manager for the Tender Offer and Consent Solicitation. Global Bondholder Services Corporation (telephone: 1-866-795-2200, banks and brokers: 1-212-430-3774) is the depositary and information agent for the Tender Offer and Consent Solicitation.
This announcement is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of tenders or consents with respect to any Existing Notes or other securities. The Tender Offer and the Consent Solicitation are being made solely pursuant to the Offer to Purchase.
The Tender Offer and Consent Solicitation 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 in which the Tender Offer and Consent Solicitation is required to be made by a licensed broker or dealer and in which the dealer manager, or any affiliates thereof, are so licensed, the Tender Offer and Consent Solicitation will be deemed to have been made by such dealer manager, or such affiliates, on behalf of the Company.
Forward-Looking Statements:
This release may contain certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to risks, uncertainty and changes in circumstances, which may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. All statements contained herein that are not clearly historical in nature are forward-looking and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. More detailed information about these and other factors is set forth in the Offer to Purchase.
SOURCE Grupo Petrotemex, S.A. de C.V.
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