Cencosud S.A. announced on April 13 the results of its cash tender offer for any and all of its outstanding 4.375% notes due in 2027.
The announcement is important to investors and stakeholders as it details the progress and terms of a significant debt management operation by Cencosud, a major South American retailer.
According to the company, as of the expiration time at 5:00 p.m., New York City time, on April 10, US$648,530,000 in aggregate principal amount of the notes had been validly tendered and not withdrawn. Notices of Guaranteed Delivery were also submitted for an additional US$1,300,000 in aggregate principal amount of notes. Holders who wish to participate using guaranteed delivery procedures must validly tender their notes by the guaranteed delivery date at 5:00 p.m., New York City time on April 14.
Settlement for accepted tenders is expected to occur on or about April 15. The consideration per US$1,000 outstanding principal amount will be paid together with accrued and unpaid interest up to but not including the settlement date. The company’s obligation to purchase these notes is subject to certain conditions described in the offer documents.
Cencosud said that copies of each offer document are available online at https://gbsc-usa.com/cencosud/. The information and tender agent for this process is Global Bondholder Services Corporation, with contact information provided for banks, brokers, and other interested parties seeking assistance or further details about participation in the offer.
The company emphasized that this notice does not constitute an offer or invitation to purchase securities in any jurisdiction where such actions would be unlawful. It also clarified that this process does not represent a public offering in Chile nor will it be subject to registration with Chilean authorities or made through local stock exchanges.
Cencosud describes itself as a leading multi-format retailer headquartered in Chile with operations across South America and the United States.
