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Peru’s Consorcio Transmantaro corrects consent solicitation detail
Chicago, March 28 – Consorcio Transmantaro SA corrected one of the details regarding its consent solicitation for its $450 million outstanding 4 3/8% senior notes due 2023 (ISINs: US210314AA87, USP3083SAC90) that started on March 22, according to a press release.
The company is seeking consents for proposed amendments that would change the terms of any optional redemption by the company.
The company corrected the make-whole amount for any such redemption to Treasuries plus 45 basis points from Treasuries plus 40 bps.
Tender offer
Consorcio Transmantaro is currently conducting a tender offer for any and all of the notes.
Early tendering noteholders will receive $1,023.50 per $1,000 note, as previously reported.
Noteholders who tender after the early deadline will receive $993.50 per $1,000 note. Accrued interest will also be paid in both instances.
Tendering noteholders will be automatically deemed to have consented to the proposed amendments.
The early tender deadline is at 5 p.m. ET on April 4, also the withdrawal deadline.
The tender offer and consent solicitation will expire at 11:59 p.m. ET on April 19.
Early settlement is planned for within five business days of the early tender deadline, and final settlement will promptly follow the expiration time.
The offer is conditioned on settlement of a new offering of senior notes. It is also conditioned on noteholders of a majority of the notes participating in the offer.
Tendering noteholders who wish to subscribe to the new offering should request an allocation code from the dealer managers.
BofA Securities, Inc. (646 855-8988, 888 292-0070) and J.P. Morgan Securities LLC (866 846-287, 212 834-7279) are the dealer managers and solicitation agents for the tender offer and consent solicitation.
D.F. King & Co., Inc. (212 232-3233; 212 269-5550, fax: 212 709-3328, ctm@dfking.com) is the information and tender agent.
The power transmission company is based in Lima, Peru.
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