#Investment #Finance #Luxembourg #Hidrovias

Hidrovias International Finance Tender Offer Results

On May 22, 2025, Hidrovias International Finance S.à r.l., a limited liability company established in Luxembourg, announced the early results of its tender offer for its outstanding 4.950% notes due in 2031. This move underscores the company's proactive approach in managing its debt obligations and optimizing its financial strategies.

Overview of the Tender Offer

The company stated that as of the early tender date at 5 p.m. NYC time, they had accumulated valid tender offers from holders of the notes amounting to $178,591,000 in principal. This figure represents 64.20% of the total outstanding notes, which excludes those held by the company itself or its affiliates. The opportunity for withdrawal from the tender offer has since expired, indicating a committed response from noteholders. The acceptance of these tenders allows for the cancellation of the corresponding notes on the expected settlement date of June 17, 2025.

Consent Solicitation and Requisite Amendments

In addition to the tender offer, the company successfully secured the requisite consents by the early tender date. As a result, they are poised to execute a supplemental indenture that will incorporate the proposed amendments. However, the enactment of these amendments will hinge on the payment of the appropriate consideration for the consents delivered. Notably, one specific amendment concerning liability management will take effect immediately upon the signing of the supplemental indenture.

The tender offer paired with the related consent solicitation is set to conclude at 5 p.m. on June 9, 2025, unless there are extensions or earlier terminations. Notably, holders of the notes who tender after the early tender date and continue through to the expiration date will receive the total consideration, which encompasses both the tender offer consideration and early tender payment, plus accrued interest on the settlement date.

Conditions and Further Steps

The company's obligation to purchase these notes is contingent upon the fulfillment or waiver of specific conditions outlined in the offer to purchase. Among these conditions is the Financing Condition which may affect the completion of the financing transaction. Therefore, the completion status of this transaction is as yet uncertain, and stakeholders are encouraged to stay informed on the developments.

Contact Information

For further inquiries, stakeholders can contact D.F. King & Co., Inc., the tender and information agent for the tender offer and consent solicitation. They can provide more information regarding the offer documents and other related queries. Additionally, several financial institutions including Itau BBA USA Securities, BofA Securities, J.P. Morgan Securities, and Morgan Stanley have been designated as dealer managers and solicitation agents to assist in this process.

Conclusion

Hidrovias International Finance has taken a decisive step by actively engaging with its debt obligations through this tender offer. The early tender results suggest a strong interest from current holders of the notes, establishing a positive outlook for the company’s financial management strategies moving forward. Noteholders and investors are encouraged to monitor subsequent updates as the company executes this strategy.