{"id":72793,"date":"2019-11-07T19:04:00","date_gmt":"2019-11-07T22:52:00","guid":{"rendered":"https:\/\/hispanicprwire.com\/english-automotores-gildemeister-announces-settlement-of-exchange-offer-and-consent-solicitation\/"},"modified":"2019-11-07T20:06:02","modified_gmt":"2019-11-08T00:06:02","slug":"automotores-gildemeister-spa-anuncia-la-liquidacion-de-su-oferta-de-intercambio-y-solicitud-de-consentimiento","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/automotores-gildemeister-spa-anuncia-la-liquidacion-de-su-oferta-de-intercambio-y-solicitud-de-consentimiento\/","title":{"rendered":"Automotores Gildemeister Announces Settlement Of Exchange Offer And Consent Solicitation"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">SANTIAGO, Chile<\/span>, <span class=\"xn-chron\">Nov. 7, 2019<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212;\u00a0Automotores Gildemeister SpA (the &#8220;Company&#8221;) announced today the settlement on <span class=\"xn-chron\">November 7, 2019<\/span> (the &#8220;Settlement Date&#8221;) of the exchange offer and consent solicitation (the &#8220;Offers and Solicitation&#8221;) for <span class=\"xn-money\">US$515,250,522<\/span> 7.50% Senior Secured Notes due 2021 (the &#8220;Existing Senior Secured Notes&#8221;), <span class=\"xn-money\">US$24,194,000<\/span> 8.250% Senior Unsecured Notes due 2021 (the &#8220;2021 Notes&#8221;) and its <span class=\"xn-money\">US$5,122,000<\/span> 6.750% Senior Unsecured Notes due 2023 (the &#8220;2023 Notes,&#8221; and together with the 2021 Notes and the Existing Senior Secured Notes, the &#8220;Existing Senior Notes&#8221;) on the terms previously announced in the offering and solicitation memorandum dated <span class=\"xn-chron\">September 30, 2019<\/span> (as supplemented from time to time, the &#8220;Offering and Solicitation Memorandum&#8221;).\u00a0 Existing Senior Notes tendered in the Offers and Solicitation were exchanged for 7.50% New Senior Secured Notes due 2025, New Series A Warrants, and New Series B Warrants (the &#8220;New Warrants&#8221;).\u00a0 In addition, pursuant to the Offers and Solicitation, certain amendments to the terms and conditions of the Existing Senior Notes were adopted and became effective on the Settlement Date.\u00a0 The New Senior Secured Notes were distributed to participating holders through DTC.\u00a0 The New Warrants were distributed through an international courier service.<\/p>\n<p>In total, 98.13% of the outstanding principal amount of the Existing Senior Secured Notes\u00a0 had been validly tendered and accepted by the Company for exchange in the Offers and Solicitation. <\/p>\n<p>Participating holders who validly tendered their Existing Senior Notes received in exchange for each <span class=\"xn-money\">US$1,000<\/span> principal amount of the Existing Senior Notes the Total Exchange Consideration outlined below:<\/p>\n<ul type=\"disc\">\n<li>For the Existing Senior Secured Notes: <\/li>\n<ul type=\"circle\">\n<li><span class=\"xn-money\">US$1,000<\/span> principal amount of New Senior Secured Notes (consisting of <span class=\"xn-money\">US$950<\/span> principal amount of New Senior Secured Notes plus the Early Tender Consideration consisting of <span class=\"xn-money\">US$50<\/span> principal amount of New Senior Secured Notes), plus accrued and unpaid interest on the Existing Senior Secured Notes through and including the Settlement Date, paid in cash on the Settlement Date; <\/li>\n<li>0.653 New Series A Warrants; and <\/li>\n<li>0.974 New Series B Warrants.<\/li>\n<\/ul>\n<\/ul>\n<ul type=\"disc\">\n<li>For the 2021 Notes: <\/li>\n<ul type=\"circle\">\n<li><span class=\"xn-money\">US$1,000<\/span> principal amount of New Senior Secured Notes (consisting of <span class=\"xn-money\">US$950<\/span> principal amount of New Senior Secured Notes plus the Early Tender Consideration consisting of <span class=\"xn-money\">US$50<\/span> principal amount of New Senior Secured Notes), plus accrued and unpaid interest on the 2021 Notes through and including the Settlement Date, paid in cash on the Settlement Date.<\/li>\n<\/ul>\n<\/ul>\n<ul type=\"disc\">\n<li>For the 2023 Notes: <\/li>\n<ul type=\"circle\">\n<li><span class=\"xn-money\">US$1,000<\/span> principal amount of New Senior Secured Notes (consisting of <span class=\"xn-money\">US$950<\/span> principal amount of New Senior Secured Notes plus the Early Tender Consideration consisting of <span class=\"xn-money\">US$50<\/span> principal amount of New Senior Secured Notes), plus accrued and unpaid interest on the 2023 Notes through and including the Settlement Date, paid in cash on the Settlement Date.<\/li>\n<\/ul>\n<\/ul>\n<p>A factor of 1.20090280 will be applied to the nominal value of <span class=\"xn-money\">$1,000<\/span> principal amount of Existing Senior Secured Notes tendered for purposes of calculating the principal amount of New Senior Secured Notes to be issued.<\/p>\n<p>THIS\u00a0PRESS\u00a0RELEASE\u00a0IS\u00a0NOT\u00a0AN\u00a0OFFER\u00a0TO\u00a0SELL\u00a0OR\u00a0A\u00a0SOLICITATION\u00a0OF\u00a0AN\u00a0OFFER\u00a0TO BUY\u00a0ANY\u00a0SECURITY.\u00a0 THE OFFERS AND SOLICITATION\u00a0ARE BEING MADE SOLELY BY THE\u00a0OFFERING AND SOLICITATION MEMORANDUM THAT MAY BE OBTAINED FROM THE EXCHANGE AND INFORMATION AGENT AND ONLY TO SUCH PERSONS AND IN SUCH JURISDICTIONS\u00a0AS\u00a0IS\u00a0PERMITTED UNDER APPLICABLE LAW.\u00a0 ANY PUBLIC OFFERING OF SECURITIES TO BE MADE IN <span class=\"xn-location\">THE UNITED STATES<\/span> WILL BE MADE BY MEANS OF A PROSPECTUS THAT MAY BE OBTAINED FROM THE COMPANY OR THE SELLING SECURITY HOLDER THAT WILL CONTAIN DETAILED INFORMATION ABOUT THE COMPANY AND MANAGEMENT, AS WELL AS FINANCIAL STATEMENTS.\u00a0 <\/p>\n<p><b>The New Senior Secured Notes, and the New Warrants offered in the Offers and Solicitation will not be registered under the Ley de Mercado de Valores No. 18,045 (the &#8220;Securities Market Law&#8221;), as amended, of <span class=\"xn-location\">Chile<\/span> with the Chilean Financial Markets Commission (Comisi\u00f3n para el Mercado Financiero, the &#8220;CMF&#8221;), together with all predecessor agencies and commissions, including, without limitation, the Chilean Securities and Insurance Commission (Superintendencia de Valores y Seguros), and, accordingly, may not be offered or sold to persons in <span class=\"xn-location\">Chile<\/span> except in circumstances that do not constitute a public offering under Chilean law.<\/b><\/p>\n<p><b><i>Los valores que se emitan no ser\u00e1n registrados en la Comision para el Mercado Financiero, antes Superintendencia de Valores y Seguros, de conformidad a la ley de Mercado de Valores No.18,045, por lo que de acuerdo a ello, no podr\u00e1n ser ofrecidos a personas en <span class=\"xn-location\">Chile<\/span> excepto en circunstancias que no constituyan una oferta p\u00fablica de valores de acuerdo a ley Chilena.<\/i><\/b><\/p>\n<p><b>About Automotores Gildemeister<\/b><\/p>\n<p>Automotores Gildemeister\u00a0is a vehicle importer and distributor primarily in <span class=\"xn-location\">Chile<\/span> and <span class=\"xn-location\">Peru<\/span>. \u00a0Since 1986, the Company has been the sole distributor of Hyundai passenger and light commercial vehicles in <span class=\"xn-location\">Chile<\/span> and since 2002, the sole distributor of Hyundai passenger, light commercial and heavy commercial vehicles in <span class=\"xn-location\">Peru<\/span>. <\/p>\n<p><b>Exchange and Information Agent<br \/><\/b><\/p>\n<p>Prime Clerk LLC<br \/>c\/o Automotores Gildemeister Exchange Offer<br \/>One Grand Central Place<br \/>60 East 42nd Street, Suite 1440<br \/><span class=\"xn-location\">New York, NY<\/span> 10165<br \/><a target=\"_blank\" href=\"mailto:AGExchange@primeclerk.com\" rel=\"nofollow\">AGExchange@primeclerk.com<\/a><br \/>Domestic and Canada Toll-Free: (877) 510-1633<br \/>Outside the U.S. and <span class=\"xn-location\">Canada<\/span>: (917) 947-5418<br \/><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2636962-1&amp;h=1971251483&amp;u=http%3A%2F%2Fcases.primeclerk.com%2Fagexchangeoffer&amp;a=http%3A%2F%2Fcases.primeclerk.com%2Fagexchangeoffer\" rel=\"nofollow\">http:\/\/cases.primeclerk.com\/agexchangeoffer<\/a><\/p>\n<p><b>Financial Advisor<\/b><\/p>\n<p>Rothschild &amp; Co<br \/>1251 Avenue of the Americas, 33rd Floor<br \/><span class=\"xn-location\">New York, NY<\/span> 10020<br \/>(212) 403-3500<br \/>Attention: Marcelo Messer\u00a0<br \/>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Samuel Karotkin<br \/>Email: <a target=\"_blank\" href=\"mailto:marcelo.messer@rothschildandco.com\" rel=\"nofollow\">marcelo.messer@rothschildandco.com<\/a>\u00a0\u00a0<br \/>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <a target=\"_blank\" href=\"mailto:samuel.karotkin@rothschildandco.com\" rel=\"nofollow\">samuel.karotkin@rothschildandco.com<\/a> <\/p>\n<p>SOURCE  Automotores Gildemeister SpA<\/p>\n<\/div>\n<p> <\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p><span class=\"xn-location\">SANTIAGO, Chile<\/span>, <span class=\"xn-chron\">Nov. 7, 2019<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212;\u00a0Automotores Gildemeister SpA (the &#8220;Company&#8221;) announced today the settlement on <span class=\"xn-chron\">November 7, 2019<\/span> (the &#8220;Settlement Date&#8221;) of the exchange offer and consent solicitation (the &#8220;Offers and Solicitation&#8221;) for <span class=\"xn-money\">US$515,250,522<\/span> 7.50% Senior Secured Notes due 2021 (the &#8220;Existing Senior Secured Notes&#8221;), <span class=\"xn-money\">US$24,194,000<\/span> 8.250% Senior Unsecured Notes due 2021 (the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-72793","post","type-post","status-publish","format-standard","hentry","category-automotriz"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/72793","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=72793"}],"version-history":[{"count":0,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/72793\/revisions"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=72793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=72793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=72793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}