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Transtel Intermedia prolongs offer to exchange of 12% notes
By Jennifer Chiou
New York, Jan. 23 - Transtel Intermedia SA announced that it has extended the expiration of its private offer to exchange for each $100,000 principal amount of its outstanding 12% senior notes due 2016, one new unit.
Each unit consists of $100,000 principal amount of its unissued senior secured amortizing step-up notes due 2016 and 100 warrants to purchase shares of the company's common stock.
The offer and solicitation will now end at 5 p.m. ET on Jan. 30.
As of the close of business on Jan. 22, $47.2 million of the notes had been tendered.
Transtel Intermedia is also soliciting consents to delist the 12% notes from the Euro MTF, the alternative market of the Luxembourg Stock Exchange, and to make certain amendments to the indenture.
The offer is conditioned on tenders for at least 95% of the notes.
HSBC Bank USA, NA is the exchange agent.
Morgan Stanley & Co. Inc. is the dealer manager and solicitation agent (800 624-1808 or call collect 212 761-1864).
The company is a privately held fixed-line telecommunications service provider operating in Colombia.
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