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Peru’s Inkia gets tenders for $399 million 8 3/8% notes, calls rest
By Susanna Moon
Chicago, Nov. 9 – Peru’s Inkia Energy Ltd. said investors had tendered $398,633,000 of its $450 million of outstanding 8 3/8% senior notes due 2021 as of the early deadline of 5 p.m. ET on Nov. 8.
Inkia accepted all of the early tendered notes with settlement on Thursday, according to a company announcement.
The company said it also issued a call to redeem the remaining notes on Nov. 14.
As announced Oct. 26 the issuer is tendering for the notes at a total purchase price of $1,031.67 for each $1,000 principal amount of notes tendered by the early deadline.
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.
The company said it has now secured the needed consents to amend the notes and has executed a supplemental indenture to the notes.
The total amount included an early tender premium of $30.00 per $1,000 principal amount.
Holders also will receive accrued interest.
Tendered notes may note be withdrawn after the early deadline.
The proposed amendments required the consents from holders of a majority of the outstanding notes.
The tender is set to end at 11:59 p.m. ET on Nov. 22.
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.
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