Avianca Group Enhances Exchange Offer for Senior Secured Notes
Avianca Group Announces Update to Exchange Offer
Avianca Group International Limited has recently announced an important update regarding its subsidiary, Avianca Midco 2 PLC. This amendment pertains to the Exchange Offer and Consent Solicitation Memorandum launched for its outstanding 9.000% Tranche A-1 Senior Secured Notes due 2028. The company is committed to providing transparency and clarity about the terms involved in this exchange offer.
Details of the Exchange Offer and Consent Solicitation
The Exchange Offer, announced earlier, involves the opportunity for holders of existing notes to exchange their current investment for newly issued 9.000% Senior Secured Notes due 2028. However, the recent Supplement No. 2 issued on this subject has made it clear that while certain terms are being amended, the core offerings and conditions remain largely unchanged. This ongoing process demonstrates Avianca Group's dedication to managing its financial obligations efficiently.
The Implications for Eligible Holders
Eligible Holders who have already participated in the initial offering do not need to take any further steps as a result of this amendment. Their initial submissions remain valid, ensuring participants are not burdened with additional actions at this stage. Avianca has emphasized that their commitment is to maintain a streamlined and efficient process for existing investors.
Registration Exemptions and Qualified Buyers
It is crucial for potential investors to note that the New Notes are not registered under the U.S. Securities Act. The offer to exchange and solicit consent is limited to qualified institutional buyers as defined under applicable regulations. This targeted approach helps in ensuring compliance with legal requirements while reaching out to suitable investors.
Roles of Leading Financial Institutions
Avianca Group is collaborating with prominent financial institutions like Deutsche Bank Securities Inc., Citigroup Global Markets Inc., and J.P. Morgan Securities LLC, serving as lead dealer managers. Their involvement underscores the financial integrity and robust management of this exchange offer.
How to Get More Information
For those interested in further details, Avianca Group encourages direct contact with D.F. King & Co., Inc., the designated information and exchange agent. They are available for questions or requests for additional documentation. This dedication to communication reflects Avianca's goal of keeping its investors well-informed.
Conclusion: Understanding Your Options
As Avianca Group navigates through these financial maneuvers, it is vital that eligible holders carefully review the related documents and updates. Although the core principles of the Exchange Offer remain intact, those interested should be proactive in understanding any amendments communicated through the updates. Engaging with the company's resources ensures that all investors have the right information to make their decisions.
Frequently Asked Questions
What is the purpose of the Exchange Offer?
The Exchange Offer allows holders of existing notes to exchange them for new notes under specified terms, offering a structured financial option.
What changes were made in Supplement No. 2?
Supplement No. 2 addresses specific amendments to the terms governing the New Notes while generally keeping other elements of the Exchange Offer unchanged.
Who can participate in the Exchange Offer?
The offer is open only to qualified institutional buyers as well as holders outside the United States who meet defined criteria.
How can I contact Avianca Group for more information?
Interested parties can reach out to D.F. King & Co., Inc. for queries or requests for documentation related to the Exchange Offer.
Are there any legal restrictions on the Exchange Offer?
Yes, the New Notes are not registered under the U.S. Securities Act, which imposes restrictions on who can participate in the offering.
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