Mexico's CIE gets tenders for 92.64% of 8 7/8% notes

By Laura Lutz

Des Moines, Feb. 15 - Corporacion Interamericana de Entretenimiento, SAB de CV (CIE) announced the expiration of the tender offer for its 8 7/8% senior notes due 2015.

The company received tenders for $171,896,000, or 92.64%, of the notes by the expiration date, midnight ET on Feb. 15. When the offer began on Jan. 17, there was $185.55 million principal amount of notes outstanding.

As of the consent deadline on Jan. 31, holders had tendered $145.96 million, or 78.7%, of the notes.

The Mexico City-based live event producer was soliciting consents to amend the indenture to eliminate or modify substantially all of the restrictive covenants, certain events of default and related provisions.

After the consent deadline, CIE said it entered into a supplemental indenture.

As previously announced, the company said it would pay $1,055 for each $1,000 principal amount of notes. Those who tender by the early deadline will receive the $30 early tender premium, which is included in the payout.

CIE also said it would pay accrued interest up to the settlement date.

Citi is the dealer manager (800 558-3745 or call collect 212 723-6108). Global Bondholder Services Corp. is the information agent (866 794-2200). The Luxembourg agent is Dexia Banque Internationale a Luxembourg (352 4590 1).

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