COFIDE Launches Cash Offer for 4.750% Bonds Due 2025
COFIDE Initiates Cash Tender Offer for Outstanding Notes
Corporación Financiera de Desarrollo S.A. (“COFIDE”) has officially launched a cash tender offer for all of its outstanding 4.750% Notes that are set to mature in 2025. This strategic move aims to provide bondholders an attractive opportunity under the defined terms laid out in the company’s Offer to Purchase.
Details of the Tender Offer
The tender offer will be valid until a specified date and aims to provide bondholders timely compensation for their investments. To participate in the tender offer, holders must submit their securities by the aforementioned deadline while ensuring to comply with the stipulated requirements within the Offer Documents.
Key Terms and Considerations
The cash consideration for the 4.750% Notes has been set at U.S.$1,000 per principal amount, reflecting COFIDE's commitment to its investors. Additionally, this offer represents almost $349 million in outstanding principal, potentially benefiting numerous bondholders. The exact details regarding tender and acceptance will be handled as indicated in the Offer Documents.
Important Dates
Bondholders must be aware that the tender offer is scheduled to end at a specific time, close of business New York time, allowing a structured process for all participants. Valid tenders submitted before the closing time on the expiry date are expected to be processed, with payment for accepted securities anticipated shortly after the close.
Conditions of the Tender Offer
The tender offer is subject to specific conditions, primarily reliant on COFIDE securing favorable terms for a concurrent spiritual notes offering. The company is aiming to fund the tender offer using proceeds from this future offering, emphasizing its strategic financial planning.
Investor Interaction and Support
COFIDE has designated Global Bondholder Services Corporation as the Tender and Information Agent for this offer. Investors seeking clarification or requiring assistance with the tender process can reach out to their representatives through specified telephone contacts provided in the release.
Final Thoughts on the Tender Offer
COFIDE encourages all holders of the 4.750% Notes to evaluate the benefits of participating in this cash tender offer. The opportunity allows for enhanced liquidity and the potential to capital redisposition. While the tender offer communicates a strong commitment to bondholders, participants should conduct their assessments or seek advice as needed.
Next Steps for Bondholders
As this offer is designed with the holder's best interests in mind, potential participants should review the Offer to Purchase directly for further insights and implications regarding their bonds. Being proactive ensures holders do not miss out on this favorable financial prospect.
Frequently Asked Questions
What is the total amount of notes available for tender?
The total outstanding principal amount available for the tender offer is approximately $349,341,000.
What is the consideration amount for the securities?
The cash consideration for the 4.750% Notes is set at U.S.$1,000 per each principal amount.
How can bondholders participate in the tender offer?
Bondholders must validly tender their securities by the defined expiration date outlined in the Offer Documents.
What happens after the tender offer expires?
After expiration, COFIDE will process valid tenders for payment shortly following the settlement date.
Who can I contact for additional information on the tender offer?
Bondholders can reach out to Global Bondholder Services Corporation for any queries or assistance regarding the tender offer process.
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