Empresa Electrica launches tender offer for 4 7/8% notes due 2029

By Taylor Fox

New York, Sept. 8 – Chile’s Empresa Electrica Angamos SA launched an offer to purchase for cash any and all of its $388,401,700 4 7/8% senior secured notes due 2029 (Cusip: 29246TAA7), according to a news release.

Holders of notes that are validly tendered prior to 5 p.m. ET on Sept. 21 and accepted for purchase will receive the $970 tender consideration for each $1,000 of the notes validly tendered and accepted for purchase, multiplied by the 78¼% scaling factor. They will also receive the $30 early tender premium, multiplied by the scaling factor, plus interest.

Tendered notes may be withdrawn prior to 5 p.m. ET Sept. 21.

Early settlement is expected on Sept. 23.

The offer will expire at 11:59 p.m. ET Oct. 5.

The final settlement date is expected to occur on Oct. 7.

Angamos intends to fund the tender offer with cash on hand.

Citigroup Global Markets Inc. (800 558-3745, 212 723-6106) is the global coordinator in the tender offer.

Citigroup, Itau BBA USA Securities, Inc. (212 710-6749), Santander Investment Securities Inc. (855 404-3636, 212 940-1442) and SMBC Nikko Securities America, Inc. (888 868-6856) are the dealer managers.

Global Bondholder Services Corp. (866 470-3700, 212 430-3774; contact@gbsc-usa.com) is the tender and information agent.

Empresa Electrica is a Santiago-based thermal power plant operator and subsidiary of Inversiones Nueva Ventanas SA.

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