Peru’s InRetail tenders for Intercorp’s $300 million 8 7/8% notes

New York, Sept. 23 – InRetail Consumer said it has begun a tender offer to buy all $300 million of the outstanding 8 7/8% senior guaranteed notes due 2018 issued by Intercorp Retail Trustee.

InRetail is also soliciting consents to amend the note indenture.

Holders who submit their notes for purchase before the early tender deadline of 5 p.m. ET on Oct. 3 will receive $1,160.99 per $1,000 principal amount, a figure that includes an early tender premium of $50.00 per $1,000.

Those who tender after the early deadline but before the expiration of 11:59 p.m. ET on Oct. 20 will receive $1,110.69 per $1,000.

InRetail expects to settle purchases of notes tendered by the early deadline on Oct. 10. The price will be increased by $0.25 per $1,000 principal amount for each day settlement is prolonged beyond Oct. 10.

There will be no payment of accrued interest.

For the tender offer, InRetail is acting through its trustee, Internacional de Titulos Sociedad Titulizadora SA.

In order to make the changes requested in the consent solicitation, the company must receive valid tenders and consents for at least a majority of the notes, excluding any held by Intercorp and its affiliates.

Credit Suisse Securities (USA) LLC is dealer manager and solicitation agent (800 820-1653 or 212 538-2147). D.F. King & Co., Inc. is information and tender agent (800 549-6746, banks and brokers 212 269-5550, inretail@dfking.com).

InRetail is based in Lima, Peru.

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