Colombia’s Termocandelaria gets required consents for 7 7/8% notes

Chicago, July 14 – Termocandelaria Power Ltd. announced that it has received the required consents to amend its 7 7/8% senior notes due 2024, according to a press release.

As of the expiration time of 5 p.m. ET on July 13, the company received consents from a majority of noteholders.

Noteholders of record as of July 13 will receive a cash payment equal to $2 per $1,000 principal amount of notes.

The cash payment is expected to occur on July 14.

As previously reported, the company was seeking the proposed amendments to restructure its existing intercompany loans through credit-linked instruments in order to improve intercompany cash management and provide the company with additional operational flexibility for the management of its cash reserves by permitting the investment by the company in certain marketable securities of governments, government agencies or instrumentalities of Colombia.

D.F. King & Co., Inc. was the information agent (212 269-5550, 877 761-6251, or tpl@dfking.com).

Termocandelaria is a power generation company based in Soledad, Colombia.

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