On April 8, 2024, ENGIE Energía Chile initiated a tender offer for all of its 4.500% bonds due 2025. The offer is detailed in the official published documents, including the offer to purchase and the guaranteed delivery notice, specifying the terms and conditions of this financial proposal. The consideration offered for redemption is USD 992.70 per USD 1,000 nominal value.
Participation timetable and procedures
Bondholders must submit their securities by 5:00 p.m. New York time on April 12, 2024, to be eligible for redemption. The settlement date is scheduled for three business days after the offer expiry date, with the possibility of withdrawing submitted bonds until that date or, if the offer is extended, until the tenth business day after its commencement.
Conditions and implications of buyback
The success of the offer is subject to the satisfaction or waiver of certain conditions described in the offer documents. In addition, ENGIE Energía Chile reserves the right to amend or terminate the offer at any time, in accordance with applicable legislation.
Consequences for holders and the company
Bonds accepted for redemption will be withdrawn and cancelled. In addition, holders will receive the redemption amount plus accrued and unpaid interest from the last interest payment date up to (but not including) the settlement date.
This initiative reflects ENGIE Energía Chile’s proactive debt management strategy, aimed at optimizing its financial structure and strengthening its position in the financial market.
