Ecuador’s Quiport gets needed consents to amend 12% notes due 2033

By Marisa Wong

Los Angeles, May 3 – International Airport Finance, SA (Quiport) obtained the necessary consents to amend its $379,119,676 12% senior secured notes due 2033 (Cusips: 45900TAA0, E6R69LAA2), according to a press release.

The company started a consent solicitation on April 19 to amend the waterfall provision of the notes in the issuer security and account agreement.

Quiport sought 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 wanted 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 was to provide the issuer with additional operating efficiencies.

Consents from a majority of noteholders were needed for the amendments.

The consent solicitation expired at 5 p.m. ET on April 30.

The record date was 5 p.m. ET on April 16.

Consenting noteholders will receive a consent fee of $0.30 per $1,000 principal amount of notes. Settlement will be on May 7.

Santander Investment Securities Inc. (800 404-3636, 212 940-1442) is the solicitation agent.

Morrow Sodali Ltd. (203 609-4910, +44 20 8089 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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