SANTIAGO, Chile, Nov. 27 /PRNewswire-FirstCall/ -- Sociedad de Inversiones Pampa Calichera S.A. ("Pampa Calichera") announced today that in connection with the Consent Solicitation dated November 20, 2008, it will pay an increased consent fee for the solicitation of consents (the "Consent Solicitation") from holders of record as of November 19, 2008 of its outstanding $250.0 million aggregate principal amount of 7.75% Senior Secured Notes due 2022 (the "Notes") (CUSIP No. 83363T AA 1 (144A)/ P8716H AA 1 (REG S)) (ISIN No. US83363TAA16 (144A)/ USP8716HAA16 (REG S)) for amendments (the "Proposed Amendments") to (i) the Indenture, dated as of February 14, 2007 (the "Indenture"), by and among Pampa Calichera, as issuer, Deutsche Bank Trust Company Americas, as trustee (the "Trustee"), and Deutsche Bank Luxembourg S.A., as Luxembourg paying agent and listing agent, governing the Notes, and (ii) the Share Pledge Agreement, dated as of February 14, 2007 (the "Share Pledge Agreement"), by and between Pampa Calichera and the Trustee.
The Proposed Amendments require the consent of holders of a majority in aggregate principal amount of the Notes outstanding. Pampa Calichera will pay an increased consent fee of US$45 in cash for each $1,000 principal amount of Notes for which consents are properly delivered, including those already delivered as of today, and not revoked prior to the expiration of the Consent Solicitation. The Consent Solicitation will expire at 5:00 p.m., New York City time, on December 4, 2008, unless it is extended by Pampa Calichera, in its sole discretion.
All other terms and conditions of the Consent Solicitation remain as described in the consent solicitation statement dated November 20, 2008 (the "Consent Solicitation Statement"), which was sent to all holders of record as of November 19, 2008. Requests for additional copies of the Consent Solicitation Statement, the Letter of Consent or other related documents should be directed to Global Bondholder Services Corporation, the information and tabulation agent, at 866-873-6300 (U.S. toll free) or 212-430-3774 (collect). Deutsche Bank Securities Inc. is the Solicitation Agent. Holders with questions regarding the Consent Solicitation may contact Deutsche Bank Securities Inc. at 866-627-0391 (U.S. toll free) or 212-250-2955 (collect), Attn: Liability Management Group.
The Consent Solicitation is only being made pursuant to the consent solicitation documents, including the Consent Solicitation Statement, which has been previously distributed to holders of the Notes. The Consent Solicitation is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.
About Pampa Calichera
Pampa Calichera is a holding company whose principal corporate purpose is to invest in all types of assets and securities such as shares, bonds and debentures. For the last four years, Pampa Calichera's sole activity has been to invest in shares of Sociedad Quimica y Minera de Chile S.A. ("SQM"), a New York Stock Exchange and Santiago Stock Exchange listed company. As of the date hereof, Pampa Calichera owned directly and indirectly, through its wholly owned subsidiary Inversiones Global Mining (Chile) Limitada, 71,732,795 Series A shares and 12,490,092 Series B shares of SQM, accounting for a total of 32.00% of its capital stock. This interest in SQM represents nearly all of Pampa Calichera's assets from which it derives its income. Pampa Calichera does not hold shares of any other operating company.
Pampa Calichera believes SQM is the world's largest integrated producer of potassium nitrate, iodine and lithium carbonate. SQM also produces other specialty plant nutrition products, iodine and lithium derivatives, and certain industrial chemicals, including industrial nitrates. SQM's products are sold in over 100 countries through its worldwide distribution network and SQM generated in 2007 81% of its revenues from countries outside Chile.
