LIMA, Peru, July 20, 2021 /PRNewswire/ — San Miguel Industrias PET S.A. (“SMI”, the “Company” or “we”) today announced that it has commenced a cash tender offer (the “Offer”), on the terms and subject to the conditions set forth in the Company’s Offer to Purchase and Consent Solicitation Statement dated July 20, 2021 (the “Statement”), for any and all of the outstanding 4.500% Senior Guaranteed Notes due 2022 (the “Notes”) in respect of which SMI and NG Packaging & Recycling Corporation Holdings S.A. are co-obligors. Capitalized terms used herein and not defined herein have the meaning given to them in the Statement.
The Company is also soliciting consents (the “Solicitation”) to certain proposed amendments to the indenture governing the Notes to, among other things, eliminate substantially all of the restrictive covenants and certain events of default, as well as to reduce the minimum notice period required for optional redemptions of the Notes to three days on the terms and subject to the conditions set forth in the Statement.
The Statement more fully sets forth the terms of the Offer and Solicitation.
The Notes and other information relating to the Offer and Solicitation are listed in the table below:
|
Notes |
CUSIP/ISIN Numbers |
Principal Amount |
Tender Offer |
Early Tender |
Total |
|
4.500% |
Rule 144A CUSIP No.: 79911P AB2 Reg… |
