Concesionaria Mexiquense begins consent solicitation for two series

Chicago, Aug. 2 – Concesionaria Mexiquense, SA de CV announced the start of a consent solicitation for its outstanding senior secured notes, according to a notice provided by a market source.

The company is soliciting consents for its UDI 1,633,624,000 outstanding 5.95% senior secured notes due 2035 (ISINs: XS1003347983, XS1003265151) and its UDI 623.2 million outstanding zero-coupon senior secured notes due 2046 (ISINs: XS1003348015, XS1003266472).

The purpose of the consents is to enable the issuer to execute and deliver an amendment to the payment trust agreement in order for certain right-of-way payments, additional capital investments and construction works being made by the issuer in accordance with the concession title to be recognized as invested capital pursuant to the concession title.

The consent solicitations will expire at 11 a.m. ET on Aug. 10.

Approval of the intercreditor vote requires the affirmative vote of two-thirds of the senior creditors. Approval of the proposed waivers requires the affirmative vote of more than half of the outstanding notes.

Separately, the issuer is soliciting consents of the lenders to its credit agreement and the holders of its certificados bursatiles to certain waivers similar in scope to the proposed waivers.

If the requisite waivers are received on or prior to the expiration date, the requisite intercreditor votes and the other requisite waivers are received on or prior to 5 p.m. ET on Aug. 20, unless terminated or extended by the intercreditor agent, and the other conditions are satisfied, the issuer will pay to consenting holders promptly after the end of the decision period a cash payment in Mexican pesos equal to the UDI value as of July 29 multiplied by UDI 1.25 per UDI 1,000 of notes for which consents are delivered to the information and tabulation agent and not revoked on or prior to the expiration date.

Goldman Sachs & Co. LLC is the solicitation agent (800 828-3182, 212 357-1452, GS-LM-NYC@gs.com).

D.F. King Ltd. is the information and tabulation agent (+44 20 7920 9700, https://sites.dfkingltd.com/conmex, conmex@dfkingltd.com).

The company has headquarters in Mexico City. It is principally engaged in industrial building construction.

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