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Mexico’s Docuformas accepts tenders for $119.4 million of 9¼% notes
By Marisa Wong
Los Angeles, July 30 – Docuformas, SAPI de CV said it received tenders for a total of $119.4 million principal amount of its $150 million 9¼% senior notes due 2022 as of 11:59 p.m. ET on July 29, the expiration of its previously announced tender offer.
The company has accepted all of the tendered notes for purchase, according to a company press release.
The total amount tendered includes $119.1 million of notes tendered as of 5 p.m. ET on July 19, the early tender date, which were settled on July 25.
Settlement for the remaining tenders will be on July 30.
The total consideration is $1,015 per $1,000 principal amount of notes. This includes an early tender payment of $50 per $1,000 principal amount of notes tendered by the early tender date.
As previously announced, the company had received as of the early tender date consents from holders of a majority in principal amount of the notes to proposed amendments under the concurrent consent solicitation launched on July 1.
As a result, the indenture governing the notes will be amended to eliminate substantially all of the restrictive covenants and some events of default and shorten the minimum notice period for a redemption to three days from 30 days.
The dealer managers and solicitation agents are Morgan Stanley & Co. LLC (212 761-1057 or 800 624-1808), UBS Securities LLC (888 719-4210 or 203 719-4210) and Banco BTG Pactual SA – Cayman Branch (212 293-4600). The tender and information agent is D.F. King & Co., Inc. (877 283-0325, 212 269-5550 or Docuformas@dfking.com).
Based in Mexico City, Docuformas provides financing solutions for the acquisition of assets and equipment by mostly small- and medium-sized businesses.
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