NEUQUÉN, Argentina, May 13, 2016 /PRNewswire/ --The Province of Neuquén (the "Province") today announced the final results of its offer to exchange its 7.875% Secured Notes due 2021 ("2021 Notes") for its 8.625% Secured Notes due 2028 (the "New Notes") launched on Monday, May 2, 2016 (the "Exchange Offer").
Holders of approximately 69.5% of the original principal amount of 2021 Notes participated in the Exchange Offer, which expired at 5:00 P.M., New York City Time on May 12, 2016. 2021 Notes for approximately U.S.$ 180.6 million original principal amount, or approximately U.S.$ 110.2 million current principal amount, were validly tendered and accepted for exchange.The settlement of the Exchange Offer is expected to take place on or about May 17, 2016, or as soon as practicable thereafter.
Upon settlement of the Exchange Offer, the Province will issue approximately U.S.$ 113.5 million aggregate principal amount of New Notes.
Any and all New Notes issued pursuant to the Exchange Offer will (i) constitute a single series with, (ii) have the same terms and conditions as, (iii) be assigned the same CUSIP and ISIN numbers and Common Codes as and (iv) be fungible with, the U.S.$ 235,000,000 New Notes issued and sold pursuant to a concurrent offering which settled on May 12, 2016.
All of the New Notes will be governed by the laws of the State of New York and will contain collective action clauses.The Province has applied to list the New Notes on the Luxembourg Stock Exchange, and has applied to have the New Notes admitted to trading on the Euro MTF market of the Luxembourg Stock Exchange, the Mercado de Valores de Buenos Aires S.A. and the Mercado Abierto Electrónico S.A.
Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC acted as the Dealer Managers, Banco de Galicia y Buenos Aires S.A., Banco Macro S.A. and Puente Hnos S.A. acted as the Local Dealer Managers and Global Bondholder Services Corporation acted as the Exchange Agent and the Information Agent.
Holders or custodians who would like to obtain more information concerning the Exchange Offer may direct their questions to the Information Agent at the following telephone number: +1 212 430 3774.
This announcement is not an offer or a solicitation of offers to exchange any securities.The summary of the terms of the Exchange Offer and of the New Notes is not complete and neither contains all the terms nor all the relevant information for a decision to participate in the Exchange Offer.The Exchange Offer was made by means of an exchange offer memorandum which contains a complete description of the Province, the Exchange Offer and the New Notes.The distribution of materials relating to the Exchange Offer, and the transactions contemplated by the Exchange Offer, may be restricted by law in certain jurisdictions. If materials relating to the Exchange Offer come into your possession, you are required by the Province to inform yourself of and to observe all of these restrictions. The materials relating to the Exchange Offer do not constitute, and may not be used in connection with, an offer or solicitation in any place where such offers or solicitations are not permitted by law.
The New Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). This announcement does not constitute a public offer in the United States of America.The New Notes may not be offered or sold in the United States of America absent registration with the U.S. Securities and Exchange Commission or an exemption from registration under the Securities Act.
