Peru’s InRetail tenders, seeks consents for $299.19 million 6½% notes

By Susanna Moon

Chicago, March 14 – InRetail Shopping Malls, a Peruvian trust, is tendering for its $299,186,000 of outstanding 6½% senior notes due 2021 until 11:59 p.m. ET on April 10.

InRetail is also soliciting consents from a majority of holders to amend the notes indenture to eliminate substantially all of the restrictive covenants and some events of default and to reduce the redemption notice required to three days, according to a company announcement.

The total purchase price will be $1,043 per $1,000 principal amount of notes tendered by 5 p.m. ET on March 26, the early tender and consent date.

The total amount includes a consent payment of $30 per $1,000 principal amount.

The issuer also will pay accrued interest to but excluding the settlement date.

Tendered notes may be withdrawn at any time before the early deadline.

Holders may not tender their notes without delivering their consents or vice versa.

The early settlement date is expected to be April 3.

The company said it plans to issue a call for the remaining notes after the early settlement date.

Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106) and J.P. Morgan Securities LLC (866 846-2874 or 212 834-7279) are the dealer managers and solicitation agents. Global Bondholder Services Corp. (212 430-3774 or 866 470-4300) is the information agent and depositary.

InRetail is a shopping mall operator based in Lima, Peru.

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