Aeropuertos Dominicanos Siglo XXI, S.A. (Aerodom) commenced a cash tender offer on January 4, 2017, for any and all of its outstanding 9.25% Senior Secured Notes due 2019, the company said.
The tender offer will expire at 5:00 p.m. EST on February 1, 2017, unless extended or earlier terminated by the company. In connection with the tender offer, the company is also soliciting consents from the holders of the notes to amend the indenture governing the notes to eliminate most of the restrictive covenants and certain events of default contained in the indenture as they relate to the notes.
Under the terms of the tender offer, the total consideration for each USD1,000 principal amount of the notes validly tendered and accepted for purchase will be USD1,050.31. The company will also pay accrued and unpaid interest to the applicable payment date. The total consideration includes an early tender payment in an amount in cash equal to USD4.06 for each USD1,000 principal amount of notes tendered by such holder and accepted for purchase, and is only payable to holders who validly tender (and do not validly withdraw) their notes and validly deliver (and do not validly revoke) their consents at or prior to 5:00 p.m.EST on January 18, 2017 (the Early Tender/Consent Deadline).
Holders who tender their notes after the early tender/consent deadline and prior to the expiration of the tender offer will (promptly after such expiration) receive the total consideration less the early tender payment, or USD1,046.25 for each USD1,000 principal amount of notes.
Aerodom has retained J.P. Morgan Securities LLC and Scotia Capital (USA) Inc. as the dealer managers and solicitation agents for the Tender Offer and Consent Solicitation. The company has retained D.F. King & Co., Inc. as information agent, tender agent and tabulation agent for the Tender Offer and Consent Solicitation.
Aeropuertos Dominicanos Siglo XXI SA develops, operates, and manages airports in the Dominican Republic.