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Banco Hipotecario S.A. has completed its Exchange Offer for the 9.750% Series 29 Notes due 2020. The offer expired on October 8, 2020, with US$130,560,000 of Old Notes tendered, representing 46.66% of the total. The bank waived the Minimum Exchange Condition and will provide an early exchange consideration of US$600.00 in New Notes and US$420.00 in cash for every US$1,000 of Old Notes exchanged. Payments are expected on October 14, 2020.
Banco Hipotecario S.A. has extended the expiration date for its exchange offer of US$279,801,000 in outstanding 9.750% Series 29 Notes due 2020. The new expiration will be at 5:00 p.m. New York City time on October 8, 2020. As of October 5, 2020, US$129,435,000 (46.26%) of the Old Notes were tendered. Holders of the Old Notes can receive US$600 in New Notes plus US$420 in cash for each US$1,000 of Old Notes exchanged. The offer is limited to qualified institutional buyers and non-U.S. persons. Detailed terms are outlined in the Exchange Offer Documents.
Banco Hipotecario S.A. announced the results of its Exchange Offer for US$279,801,000 of outstanding 9.750% Series 29 Notes due 2020, where US$97,575,000 (34.87%) were validly tendered by the Early Participation Date. Eligible holders will receive US$600 in New Notes and US$420 in cash per US$1,000 of Old Notes. The Exchange Consideration remains unchanged, but recent Central Bank restrictions on U.S. dollar access may impact future debt repayments. The Exchange Offer is available only to qualified institutional buyers and non-U.S. persons.
Banco Hipotecario S.A. has initiated an exchange offer for its 9.750% Series 29 Notes due 2020, amounting to US$279.8 million. Eligible holders can exchange their Old Notes for New Notes due 2025 and receive cash consideration. The offer's early participation deadline is September 21, 2020, with the expiration date set for October 5, 2020. Holders receiving US$650 plus US$350 in cash for early exchanges, or US$850 and US$150 for later exchanges. Accrued interest will be paid on the Settlement Date, October 8, 2020.
