Peru’s InRetail to offer new notes concurrently with tender offer

By Rebecca Melvin

New York, March 14 – InRetail Shopping Malls said it plans to sell new senior notes concurrently with its tender for $299,186,000 of outstanding 6½% senior notes due 2021, according to a company announcement.

Further details of the new notes were not immediately known.

InRetail is also soliciting consents from a majority of holders to amend the indenture of the notes being tendered to eliminate substantially all of the restrictive covenants and some events of default and to reduce the redemption notice required to three days. The tender expires on April 10.

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.

Citigroup and J.P. Morgan Securities LLC are the dealer managers and solicitation agents.

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

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