Buenos Aires-based Aeropuertos Argentina 2000 S.A. has announced the commencement of an exchange offer for any and all of its outstanding 6.875% Senior Secured Notes due 2027 in the original aggregate principal amount of USD 400,000,000 for newly issued 6.875% Cash/9.375% PIK Class I Series 2020 Additional Senior Secured Notes due 2027, the company said.
The Company is offering the Series 2020 Additional Notes as additional notes pursuant to an amended and restated indenture that will amend and restate the indenture, dated as of February 6, 2017, under which the Existing Notes were issued (the “Indenture”). The terms of the Series
Concurrently with the Exchange Offer, the Company is also soliciting consents from holders of the Existing Notes to certain proposed amendments to the Indenture. The proposed amendments would provide for the issuance of the Series 2020 Additional Notes as additional notes under the Indenture and would eliminate substantially all of the restrictive covenants and events of default and related provisions with respect to the Existing Notes.
Eligible Holders who validly tender Existing Notes and deliver consents under the Consent Solicitation, and do not validly revoke such tenders and consents, on or prior to 5:00 p.m. unless extended or earlier terminated.
The Exchange Offer and the Consent Solicitation are part of the Company´s plan to mitigate the impact of the unprecedented COVID-19 pandemic that has heavily impacted the global aviation sector which lead to a drastic reduction in passenger traffic.
Aeropuertos Argentina 2000 S.A. was founded in 1998 in order to develop and operate the airports throughout the Argentine territory, becoming one of the largest private sector airport operators in the world, with 35 airports under management.