Mexico's GEO settles $195.22 million early tenders for 8 7/8% notes

By Jennifer Chiou

New York, March 27 - Corporacion GEO SAB de CV announced the early settlement on Tuesday of all tenders for $195,218,000 principal amount, or 78.09%, of its 8 7/8% senior notes due 2014 by 5 p.m. ET on March 19, the early tender and consent time.

The company paid $1,085 for each $1,000 principal amount of notes. This includes a $30.00 early tender fee for notes tendered by the early deadline.

The offer will end at 11:59 p.m. ET on April 4.

The tender offer and consent solicitation for the notes began on March 9.

As reported, the company is soliciting consents to amend the notes to eliminate substantially all of the restrictive covenants.

The offer is conditioned on the receipt of enough proceeds from one or more debt offerings.

Final settlement date is slated for April 6.

Citigroup Global Markets Inc. (800 558-3745), J.P. Morgan Securities LLC (866 846-2874) and Santander Investment Securities Inc. (212 407-0995) are the lead dealer managers. Global Bondholder Services Corp. (866 470-4500) is the information agent.

GEO is a Mexico City-based homebuilder.

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