SANTIAGO, Chile, Aug. 22, 2012 /PRNewswire/ -- Sociedad de Inversiones Pampa Calichera S.A. ("Pampa Calichera") announced today that, in connection with its solicitation of consents (the "Consent Solicitation") from holders of record as of July 24, 2012 (the "Holders") of its outstanding $250.0 million aggregate principal amount of 7.75% Senior Secured Notes due 2022 (the "Notes") (CUSIP No. 83363T AA 1 (144A)/ P8716H AA 1 (REG S)) (ISIN No. US83363TAA16 (144A)/ USP8716HAA16 (REG S)) for certain amendments (the "Amendments") to (i) the Indenture, dated as of February 14, 2007, by and among Pampa Calichera, as issuer, Deutsche Bank Trust Company Americas, as trustee (the "Trustee"), and Deutsche Bank Luxembourg S.A., as Luxembourg paying agent and listing agent (the "Luxembourg Agent"), governing the Notes, as supplemented by the First Supplemental Indenture, dated as of December 4, 2008 (as so supplemented, the "Indenture"), and (ii) the Share Pledge Agreement, dated as of February 14, 2007, by and between Pampa Calichera and the Trustee, as amended by the Share Pledge Amendment executed by public deed on December 4, 2008 (as so amended, the "Share Pledge Agreement"), it has received validly executed consents from Holders representing a majority of the aggregate principal amount outstanding of Notes on or prior to August 21, 2012 and those consents have not been revoked.
Accordingly, Pampa Calichera entered into (i) a Second Supplemental Indenture, dated as of August 22, 2012, by and among Pampa Calichera, the Trustee and the Luxembourg Agent, and (ii) an Amendment to the Share Pledge Agreement, dated as of August 22, 2012, pursuant to which the Amendments became effective as of August 22, 2012. All current Holders of Notes, including non-consenting Holders, and all subsequent Holders will be bound by the Amendments.
The Amendments (i) removed the covenants in the Indenture relating to limitation on incurrence of additional indebtedness (Section 5.02), restricted payments (Section 5.03), limitation on liens (Section 5.04), limitation on transactions with affiliates (Section 5.05) and asset sales (Section 5.06) and removed or amended, as applicable, certain other provisions and definitions related thereto, (ii) added the covenant in the Indenture relating to negative pledge (Section 5.16), and (iii) amended the Share Pledge Agreement to revise the mechanism for triggering the obligation of Pampa Calichera to pledge additional shares of Sociedad Química y Minera de Chile S.A. ("SQM") to maintain the Minimum Collateralization Ratio (as defined in the Consent Solicitation Statement) if the Collateralization Ratio (as defined in the Consent Solicitation Statement) remains below the Minimum Collateralization Ratio during a predefined period of time.
Holders with questions regarding the Consent Solicitation may contact Global Bondholder Services Corporation at 866-736-2200 (U.S. toll free) or 212-250-2955 (collect), Attn: Corporate Actions.
This press release is for informational purposes only. The Consent Solicitation was only made pursuant to the consent solicitation documents, including the Consent Solicitation Statement and Supplement No. 1 thereto, which had been previously distributed to Holders. The Consent Solicitation was not made to Holders in any jurisdiction in which the making or acceptance thereof would have not been in compliance with the securities, blue sky or other laws of such jurisdiction.
About Pampa Calichera
Pampa Calichera is a holding company whose principal corporate purpose is to invest in all types of assets and securities such as shares, bonds and debentures. For the last four years, Pampa Calichera's sole activity has been to invest in shares of Sociedad Quimica y Minera de Chile S.A. ("SQM"), a New York Stock Exchange and Santiago Stock Exchange listed company. As of the date hereof, Pampa Calichera owns directly and indirectly, through its wholly owned subsidiary Inversiones Global Mining (Chile) Limitada, 53,557,369 Series A shares and 12,241,799 Series B shares of SQM, accounting for a total of 25.0001% of its capital stock. This interest in SQM represents nearly all of Pampa Calichera's assets from which it derives its income. Pampa Calichera does not hold shares of any other operating company.
Pampa Calichera believes SQM is a unique company with a global presence in a variety of industries: Speciality Plant Nutrition, Iodine and Derivatives, Lithium and Derivatives, Industrial Chemicals and Potassium. Pampa Calichera also believes SQM is the world's largest integrated producer of potassium nitrate, iodine and lithium carbonate. SQM's products are sold in over 100 countries through its worldwide distribution network, with approximately 87% of its sales derived from countries outside Chile in 2011.
SOURCE Sociedad de Inversiones Pampa Calichera S.A.