Interchile modifies pricing formula in tender offer for 4½% bonds

Chicago, Oct. 27 – Interchile SA modified the pricing formula and consideration in the capped tender offer for its $1.2 billion outstanding 4½% senior secured notes due 2056 (Cusips; 45846AAA8, P5R70LAA9), according to a press release.

After the detailed changes to the formula, the result is that the tender offer consideration is $719.95 per $1,000 bond, inclusive of a $50 early tender consideration that will only be paid to noteholders who tendered by the early deadline at 5 p.m. ET on Oct. 27. Accrued interest is still being paid through the settlement date.

The tender consideration was still based on the 4 3/8% U.S. Treasury due Aug. 15, 2043 with a 180 basis points fixed spread.

Pricing was set on Oct. 27.

The withdrawal deadline was the same as the early tender deadline.

The offer still expires at 5 p.m. ET on Nov. 14.

The early settlement date is Oct. 31, and the final settlement date is Nov. 15.

The offer is capped at $160 million. Tenders may be prorated.

D.F. King & Co. (interchile@dfking.com, 212 269-5550 or 800 967-5019) is the information and tender agent.

J.P. Morgan Securities LLC (866 846-2874 or 212 834-7279) is the dealer manager.

The infrastructure construction services company is based in Santiago, Chile.

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