Avianca Holdings S.A. Today, it announced that it extends its expiration date and early engagement expiration with a coupon rate of 8.375% and 2020, based on the bid offer for each of the bonds.
Avianca, the deadline for new expiry and the offer of exchange for the early participation deadline at 12:01 am in New York City on November 1, 2019, and all of the existing bonds that were traded in that period or earlier, da early participation premiums ”.
The following table specifies the conditions of exchange, the early participation premium and the full exchange fee for the current bonds, the request for consent for the current bonds that have been offered and accepted for the exchange in the stock exchange bid.
Avianca announced today that at the time of New York City, 12:01:30, on October 30, 2019, it was the accumulated capital of the Existing Bonds, which were validly offered on the Stock Exchange and had not been revoked. As approved by the information agency for the stock exchange offer, the total amount of existing bonds was $ 484,419,000, or about 88.1%.
Upon completion of the exchange offer, Avianca agreed to pay the broker for a fee equal to US $ 2.50 for each of the principal amounts of the existing bonds submitted in a valid manner. This fee is only (1), taking into account that the sum of the existing bonds submitted by any person and accepted for the bond must be paid in return for USD 400,000, 2) in relation to proposals submitted after 12 September 2019.
The company also announced that it expects all conditions to finalize the final settlement offer. The settlement date of the Stock Exchange Offer is expected to occur quickly after the Expiration Date.