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Cibanco details early results for tender offer for 4 3/8% notes due 2031
By Mary-Katherine Stinson
Lexington, Ky., Nov. 30 – Cibanco, SA, Institucion de Banca Multiple as trustee of trust Fideicomiso Numero CIB/3332 (Fibra SOMA) detailed the early tender results for its previously announced offer to purchase for cash a total of up to $150 million of its 4 3/8% senior notes due 2031 (Cusips: 171653AA6, P26064AA6) issued by Fibra SOMA, according to a company notice.
As of the early expiration of 5 p.m. ET on Nov. 29, $201,381,000 of the notes were tendered, which represents an aggregate purchase price of $142,980,510 pursuant to the offer terms.
Early settlement will be Dec. 2.
Holders who have tendered by the early deadline will receive the total consideration of $710 per $1,000 of principal amount of notes tendered. This includes an early tender premium of $50 per $1,000 of notes.
Holders who validly tender their notes after the early tender date but on or prior to the expiration date will be eligible to receive $660 per $1,000 of principal amount of notes tendered.
Accrued interest will also be paid in both cases.
The offer is conditioned upon a new debt condition at the sole discretion of the company.
The offer expires at 11:59 p.m. ET on Dec. 13. The offer was launched Nov. 15.
BBVA Securities Inc. (800 422-8692, 212 728-2303, liabilitymanagement@bbva.com) and Scotia Capital (USA) Inc. (800 372-3930, 212 225-5501, LM@scotiabank.com) are acting as joint dealer managers for the offer.
D.F. King & Co., Inc. (212 269-5550, 888 564-8149, cibanco@dfking.com) is the information agent for the offer.
The issuer is a Mexico City-based real estate investment trust.
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