Peru’s Inkia tenders, seeks consents for $450 million of 8 3/8% notes

By Susanna Moon

Chicago, Oct. 26 – Inkia Energy Ltd. said it is tendering for its $450 million of outstanding 8 3/8% senior notes due 2021 until 11:59 p.m. ET on Nov. 22.

Inkia also is soliciting consents to amend the notes indenture to eliminate substantially all of the restrictive covenants as well as events of default and related provisions and to shorten the minimum call notice to three days from 30 days, according to a company announcement.

The total purchase price will be $1,031.67 for each $1,000 principal amount of notes tendered by the early deadline of 5 p.m. ET on Nov. 8.

The total amount includes an early tender premium of $30.00 per $1,000 principal amount.

Holders also will receive accrued interest.

Inkia said it plans to call any notes not tendered as of the early deadline.

Tendered notes may be withdrawn as of the early deadline.

The proposed amendments require the consents from holders of a majority of the outstanding notes.

Holders who tender their notes will be deemed to have consented to the proposed amendments, holders may not give consents without tendering the related notes.

D.F. King & Co., Inc. (877 864-5059, 212 269-5550 or Inkia@dfking.com) is the tender and information agent. Credit Suisse Securities (USA) LLC (800 820-1653 or 212 538-2147) and Scotia Capital (USA) Inc. (800 372-3930 or 212 225-5559) are the dealer managers and solicitation agents.

Inkia Energy is a power generation services company based in Lima, Peru.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.