Camposol announces final results of its Exchange Offer and Settlement Date
(Thomson Reuters ONE) -
Lima, May 25, 2016 - Camposol S.A. (the "Company") announced today that
following the expiration of its offer to exchange Existing Notes for New Notes
announced on April 11, 2016 (the "Exchange Offer"), the Company has received
valid tenders that were not withdrawn from 73.75% of holders of Existing Notes,
representing US$147,490,000, of the aggregate US$200,000,000 principal amount of
notes outstanding. A total of US$52,510,000 principal amount of Existing Notes
was not tendered in the Exchange Offer. The Exchange Offer expired at midnight,
New York City time, on May 24, 2016.
The Company also announced that the settlement of the Exchange Offer is
scheduled for Friday, May 27, 2016. On the settlement date, holders of Existing
Notes who validly tendered their notes will receive for each US$1.00 of Existing
Notes tendered, US$1.00 of New Notes plus the payment of a Participation Fee
equal to 1.00% of the principal amount of Existing Notes tendered. The New Notes
will bear interest at an annual rate of 10.50% and will mature in 2021 and will
have the benefit of the Collateral provided by the Peruvian Trust Agreement, as
described in the Exchange Offer Memorandum, dated April 11, 2016, as amended,
that was prepared by the Company in connection with the Exchange Offer.
The Company further announced that after settlement of the Exchange Offer, it
may contact holders of Existing Notes who have not participated in the Exchange
Offer in an effort to obtain additional exchanges for New Notes. Any such
additional exchanges, if accepted, would require the Company to issue additional
New Notes under the New Notes indenture. In addition, the Company is seeking
extensions of its existing lines of credit in an effort to address its short-
term liquidity and working capital requirements.
The Exchange Offer and the New Notes have not been and will not be registered
under the U.S. Securities Act of 1933, as amended (the "Securities Act"). As a
result, holders within the United States or who are U.S. persons were eligible
to participate in the Exchange Offer only if they are "qualified institutional
buyers" ("QIBs") as defined in Rule 144A under the Securities Act ("Rule
144A"). Offers and issuances of the New Notes to non U.S. persons outside the
United States were made in offshore transactions in reliance on Regulation S
under the Securities Act ("Regulation S").
D.F. King & Co., Inc. acted as Information and Exchange Agent, in connection
with the Exchange Offer.
This press release is neither an offer to purchase nor the solicitation of an
offer to sell OR EXCHANGE any of the securities described herein in the United
States or in any other jurisdiction where such offer is prohibited, and such
securities may not be offered, sold OR EXCHANGED in the United States absent
registration or an exemption from registration under the Securities Act. THE
COMPANY does not intend to register any NEW NOTES in the United States or to
conduct a public offering of such securities in any jurisdiction. The exchange
offer is made solely pursuant to the EXCHANGE OFFER memorandum dated APRIL
11, 2016, as supplemented by THE SUPPLEMENT DATED MAY 5, 2016.
The Exchange Offer was made solely pursuant to the Exchange Offer Memorandum, as
supplemented by the Supplement, and only to such persons and in such
jurisdictions as are permitted under applicable law.
None of the Company, the Dealer Managers or the Information and Exchange Agent
has made any recommendation as to whether holders of Existing Notes should
tender Existing Notes or participate in the Exchange Offer.
This announcement contains forward-looking statements and information that is
necessarily subject to risks, uncertainties and assumptions. No assurance can be
given that the transactions described herein will be consummated or as to the
terms of any such transactions. The Company assumes no obligation to update or
correct the information contained in this announcement.
This communication is only being distributed to and is only directed at (i)
persons who are outside the United Kingdom or (ii) investment professionals
falling within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "Order") or (iii) high net worth
companies, and other persons to whom it may lawfully be communicated, falling
within Article 49(2)(a) to (d) of the Order (all such persons together being
referred to as "relevant persons"). The New Notes are only available to, and any
invitation, offer or agreement to subscribe, purchase or otherwise acquire such
New Notes will be engaged in only with, relevant persons. Any person who is not
a relevant person should not act or rely on this document or any of its
contents.
About Camposol
Camposol is the leading agro industrial company in Peru, the first producer of
avocados and soon the first producer of blueberries in the world. It is involved
in the harvest, processing and marketing of high quality agricultural products
such as avocadoes, asparagus, blueberries, grapes, mangos, tangerines and
shrimp; which are exported to Europe, the United States and Asia. Camposol is a
vertically integrated company located in Peru, offering fresh and frozen
products. It is the third largest employer of the country, with more than
13,000 workers in high season, and is committed to support sustainable
development through social responsibility policies and projects aimed to
increase the shared-value for all of its stakeholders. Camposol was the first
Peruvian agro industrial company to present annual audited Sustainability
Reports and has achieved the following international certifications: BSCI,
Global Gap, IFS, HACCP and BRC among others.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Camposol Holding Limited via GlobeNewswire
[HUG#2015663]
Unternehmensinformation / Kurzprofil:
Datum: 25.05.2016 - 22:31 Uhr
Sprache: Deutsch
News-ID 473739
Anzahl Zeichen: 6848
contact information:
Town:
Lima
Kategorie:
Business News
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"Camposol announces final results of its Exchange Offer and Settlement Date"
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