IDC Overseas, Ltd. Announces Expiration and Results of Exchange Offer of its Outstanding 9.0% Notes due 2026

TORTOLA, British Virgin Islands, March 21, 2025 /PRNewswire/ -- IDC OVERSEAS, LTD. (the "Company" or "IDC") announced today that its offer to exchange (the "Exchange Offer") any and all of its outstanding 9.0% Notes due 2026 (ISIN: XS2590265471; Common Code: 259026547) (the "Existing Notes") for an equal amount of its new 9.0% Notes due 2030 (the "New Notes") has expired in accordance with its terms at 4:00 p.m. London time on March 21, 2025.  An aggregate principal amount of $144,940,000 of Existing Notes have been validly tendered for exchange, representing 96.63% of the outstanding Existing Notes.  The Company has accepted for exchange all of the Existing Notes tendered.  The Company expects the settlement date of the Exchange Offer to be on or about March 26, 2025

General

BCP Securities, Inc. is acting as exclusive dealer manager for the Exchange Offer. D.F. King Ltd. has been appointed as the information agent and exchange agent for the Exchange Offer. The complete terms and conditions of the Exchange Offer are described in the exchange offer memorandum, copies of which may be obtained by Eligible Holders by contacting (i) BCP Securities, Inc. at [email protected] or (ii) D.F. King Ltd. at +44 20 7920 9700 or [email protected]. For more information, visit https://clients.dfkingltd.com/idc.

The New Notes have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the United States or other jurisdiction, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the New Notes are being offered and sold only to non-U.S. persons outside the United States in compliance with Regulation S under the Securities Act ("Eligible Holders").

This announcement is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy the New Notes nor an offer to purchase Existing Notes. The Exchange Offer was made solely by means of the exchange offer memorandum.

About the Company

IDC was founded in 1995 and has evolved from a consulting firm to an investment bank, to a multi-fund platform for strategic investments. IDC operates its business through four offices located in Miami, Guatemala City, Madrid and Copenhagen, providing a global platform and local knowledge for sourcing transactions and raising capital for different funds and a network divided into six verticals. IDC's purpose is to be a transformation agent, ultimately making a positive impact and changing the lives of people through its investments and proprietary projects. As of December 31, 2024, the Company's assets under management were US$2.1 billion.

Forward-Looking Statements

This release may contain forward-looking statements. These statements relate to our future prospects, developments and business strategies and are identified by our use of terms and phrases such as "believe," "could," "would," "will," "estimate," "expect," "intend," "may," "plan," "predict," "strategy" and similar terms and phrases, and may include references to assumptions. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and are based on numerous assumptions and that our actual results of operations, including our financial condition and liquidity may differ materially from (and be more negative than) those made in, or suggested by, any forward-looking statements contained in this release. In addition, even if our results of operations, including our financial condition and liquidity and the development of the industry in which we operate, are consistent with the forward-looking statements contained in this release, those results or developments may not be indicative of results or developments in subsequent periods. These forward-looking statements speak only as of the date of this release and we undertake no obligation to update or revise any forward-looking statement, whether as a result of new information or future events or developments. More detailed information about these and other factors is set forth in the exchange offer memorandum.

SOURCE IDC Overseas, Ltd.