MEXICO CITY, June 4, 2019 /PRNewswire/ --
Unifin Financiera, S.A.B. de C.V. (BMV: UNIFINA.MX) (the "Company") communicated today the successful results of its previously announced consent solicitations involving its international senior notes. The consent solicitations received the support of a substantial majority of the Company's noteholders, having received consents from holders of 74.31% of the US$1,150 million aggregate principal amount of notes of the three series involved. Consenting holders will receive the consent payment of US$2.50 per US$1,000 principal amount of notes for which consents were delivered and accepted in the transaction.
The Company recognizes and acknowledges the cooperation of the international investment community in ensuring a successful outcome for this transaction, and looks forward to a continued mutually beneficial relationship with all its noteholders.
The Consent Solicitations
As of 5:00 p.m., New York City time, on June 3, 2019 (the "Expiration Date") holders of (i) US$300,621,000 aggregate principal amount of its 7.250% Senior Notes due 2023 (the "2023 Notes"), or 75.16% of the outstanding principal amount of 2023 Notes, (ii) US$310,537,000 aggregate principal amount of its 7.000% Senior Notes due 2025 (the "2025 Notes"), or 69.01% of the outstanding principal amount of 2025 Notes, and (iii) US$243,442,000 aggregate principal amount of its 7.375% Senior Notes due 2026 (the "2026 Notes," and together with the 2023 Notes and the 2025 Notes, the "Notes"), or 81.15% of the outstanding principal amount of 2026 Notes, had validly delivered their consents pursuant to the consent solicitations (the "Consent Solicitations"), upon the terms and conditions described in the Company's Consent Solicitation Statement, dated May 22, 2019 (the "Statement").
Based on the number of consents delivered pursuant to the Consent Solicitations on or prior to the Expiration Date, holders of at least a majority of the outstanding principal amount of Notes of each series have validly delivered consents to certain proposed amendments as described in the Statement (the "Proposed Amendments"). As a result, the Proposed Amendments are expected to become effective on or promptly following the date hereof upon the execution of a supplemental indenture to each of the indentures governing the Notes.
The revocation deadline for the Consent Solicitations has passed and therefore consents that have been validly delivered cannot be revoked. The settlement date on which the Company expects to pay consenting holders the consent payment of US$2.50 per US$1,000 principal amount of Notes for which consents were delivered and accepted in the Consent Solicitations is expected to be June 5, 2019.
Each supplemental indenture reflecting the Proposed Amendments will be effective immediately upon execution thereof but will not become operative until the consent payments are paid with respect to the applicable series of Notes. Holders of Notes for which no consent was delivered will not receive the consent payment, even though the Proposed Amendments, once operative with respect to a series of Notes, will bind all holders of such series of Notes and their transferees.
Morgan Stanley & Co. LLC was the solicitation agent in the Consent Solicitations and D.F. King & Co., Inc. was retained to serve as the tabulation, information and paying agent. Persons with questions regarding the Consent Solicitations should contact Morgan Stanley & Co. LLC at (toll free) (800) 624-1808 or (collect) (212) 761-1057. Requests for the Statement should be directed to D.F. King & Co., Inc. at (toll free) (877) 871-1741 or by email to email@example.com.
Neither the Statement nor any documents related to the Consent Solicitations have been filed with, and have not been approved or reviewed by any federal or state securities commission or regulatory authority of any country. No authority has passed upon the accuracy or adequacy of the Statement or any documents related to the Consent Solicitations, and it is unlawful and may be a criminal offense to make any representation to the contrary.
This press release contains forward-looking statements. Forward-looking statements are information of a non-historical nature or which relate to future events and are subject to risks and uncertainties. No assurance can be given that the transactions described herein will be consummated or as to the ultimate terms of any such transactions. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason.
Head, Investor Relations & Corporate Finance
+52 (55) 5249 5800
SOURCE Unifin Financiera, S.A.B. de C.V.