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Ecuador’s Quiport begins consent solicitation for 12% secured notes
Chicago, April 19 – International Airport Finance, SA (Quiport) started a consent solicitation for its 12% senior secured notes due 2033 (Cusips: 45900TAA0, E6R69LAA2), according to an announcement.
The company is seeking to amend the waterfall provision of the notes in the issuer security and account agreement.
Quiport seeks to be able to use funds on deposit in the issuer collections account to pay fees, costs, expenses or reimbursements related to its business and operations, including without limitation taxes. Additionally, the company would like to be able to use the funds for the issuance of additional notes or any amendments, waivers or consents under the notes documents.
The goal of the consent solicitation is to provide the issuer with additional operating efficiencies.
The consent solicitation will expire at 5 p.m. ET on April 30.
The record date is 5 p.m. ET on April 16.
Consents from a majority of noteholders are needed for the amendments.
Consenting noteholders will receive a consent fee of $0.30 per $1,000 principal amount of notes if the required consents are delivered on or prior to the expiration date.
Payment of the consent fee is expected not later than five business days after the expiration date.
The amendment will be effective immediately.
Santander Investment Securities Inc. (800 404-3636, 212 940-1442) is the solicitation agent.
Morrow Sodali Ltd. (203 609-4910, +44 208 089 3287, +852 2319 4130, quiport@investor.morrowsodali.com, https://bonds.morrowsodali.com/quiport) is the information and tabulation agent.
The issuer operates, maintains and develops the largest airport in Ecuador and the only airport serving Quito, the capital of the country.
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