Transtelco understands that Maxcom does not have the means to repay the amounts that will become due and payable under the Notes. The Acquisition is subject to the completion of the Offer and Consent Solicitation, among other conditions. The purpose of the Offer is to purchase any and all of the Notes in connection with the Acquisition (as defined below), a principal objective of which is to help the Issuer avoid a potential insolvency proceeding ( Concurso Mercantil) governed by the Mexican Concursos Law ( Ley de Concursos Mercantiles) in Mexico or a potential U.S. However, if the Proposed Amendments become operative, holders who do not tender Notes will be bound by the Proposed Amendments following the Settlement Date, meaning that their Notes will be governed by the Indenture as amended by the Supplemental Indenture. If the Offer or the Consent Solicitation is terminated or withdrawn, the existing Indenture governing the Notes will remain in effect in its present form. Subject to the satisfaction of the conditions to the Offer set forth in the Offer to Purchase dated Septem(the "Offer to Purchase"), Transtelco expects to accept and pay for all Notes tendered at or prior to the Expiration Date on or about Octo(the "Settlement Date"). Other than the Total Consideration, holders of Notes accepted for purchase will not receive any additional payments in respect of accrued and unpaid interest on such Notes or otherwise. No additional consideration is payable for a consent in the Consent Solicitation but the Total Consideration for the Notes also constitutes consideration for the related consent. The consideration for each $1,000 principal amount of Notes validly tendered and not withdrawn at or prior to the Early Tender Date, and accepted for purchase pursuant to the Offer, will be $515.00 per $1,000 principal amount of Notes (the "Total Consideration"), which includes an early tender premium of $50.00. The new Early Tender Date is 11:59 p.m., New York City time, on October 21, 2021, which is also the expiration date of the Offer (the "Expiration Date"). In order to provide holders and beneficial owners with sufficient time to receive and analyze the materials, and tender their Notes and consents in accordance with the applicable procedures as described by us in the materials, Transtelco has decided to extend the Early Tender Date and provide the early tender premium to any holder that tenders its notes prior to the new Early Tender Date. It has come to Transtelco's attention that it has taken considerable time for holders and beneficial owners of Notes to receive the Offer and Consent Solicitation materials initially published on September 23, 2021, and some holders and beneficial owners may not have received such materials yet. Because the principal amount of Notes tendered prior to the Early Tender Date exceeded a majority of the outstanding Notes, the requisite consents necessary to adopt the Proposed Amendments have been obtained, and (assuming such Notes tendered are not subsequently withdrawn) Transtelco intends to cause the Issuer, the guarantors and the trustee to execute a supplement to the indenture governing the Notes to effect the Proposed Amendments on the Settlement Date (defined below), which will become operative upon Transtelco's purchase of the Notes in accordance with the Offer and Consent Solicitation. King & Co., Inc., the tender agent and information agent for the Offer, as of 5:00 p.m., New York City time, on Octo(the "Early Tender Date"), an aggregate of $53,404,677 principal amount of the Notes, representing approximately 93.93% of the outstanding Notes, had been validly tendered and not withdrawn pursuant to the Offer. ("Transtelco") announced today the early results of Transtelco's previously announced cash tender offer to purchase any and all of the outstanding 8% Senior Secured Notes due 2024 (the "Notes") of Maxcom Telecomunicaciones, S.A.B de C.V., a sociedad anónima bursátil organized under the laws of the United Mexican States ("Maxcom " or the "Issuer") from holders of the Notes (the "Offer") and solicitation of consents from holders of the Notes (the "Consent Solicitation") to effect certain amendments (the "Proposed Amendments") to the indenture governing the Notes (the "Indenture").Īccording to information received from D.F.
6, 2021 /PRNewswire/ - Transtelco Holding, Inc.
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