Automotores Gildemeister : Extends Additional Tender Consideration

SANTIAGO, Chile, Jan. 22, 2016 /PRNewswire/ -- Automotores Gildemeister (the "Company") announced today that it has extended the Additional Tender Consideration (as defined below) in its exchange offer and consent solicitation (the "Offers and Solicitation") for its US$400 million 8.250% Senior Unsecured Notes due 2021 (the "Existing 2021 Notes") and its US$300 million 6.750% Senior Unsecured Notes (the "Existing 2023 Notes," and together with the Existing 2021 Notes, the "Existing Unsecured Notes").

The Company announced that it is extending the payment of an additional US$31 principal amount of 7.50% New Senior Secured Notes for each US$1,000 principal amount of Existing Unsecured Notes tendered (the "Additional Tender Consideration") to all holders of Existing Unsecured Notes who tender on or prior to February 5, 2016 (the "Expiration Date"). The Additional Tender Consideration was previously available only to holders who tendered their Existing Unsecured Notes on or prior to January 22, 2016 (the "Early Tender Date") and was subject to the requirement that at least 70% of the outstanding principal amount of each series of Existing Unsecured Notes were tendered in the Offers and Solicitation on or prior to the Early Tender Date, which condition was satisfied on the Early Tender Date. Accordingly, in the event all other terms and conditions set forth in the Offering and Solicitation Memorandum dated December 17, 2015, and supplemented from time to time (as supplemented, the "Offering and Solicitation Memorandum") are satisfied and the Offers and Solicitation are successfully consummated, the Company will pay the Additional Tender Consideration on the settlement date to all holders who have tendered their Existing Unsecured Notes on or prior to the Expiration Date.

The Company also announced that it has issued a fourth supplement (the "Fourth Supplement") to amend the Offering and Solicitation Memorandum to reflect the extension of the Additional Tender Consideration. Holders of the Company's Existing Unsecured Notes should contact Prime Clerk, the Exchange and Information Agent, to obtain a copy of the Fourth Supplement.

The Offers and Solicitation are being conducted upon the terms and subject to the conditions set forth in the Offering and Solicitation Memorandum and the related letter of transmittal. The Offers and Solicitation are only made, and copies of the offering documents will only be made available, to a holder of the Existing Unsecured Notes who has certified its status as (1) a "qualified institutional buyer" as defined in Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), (2) a person who is not a "U.S. person" as defined under Regulation S under the Securities Act or (3) an "accredited investor" as defined in Rule 501 of Regulation D under the Securities Act (each, an "Eligible Holder").

Beneficial owners of Existing Unsecured Notes should carefully read the Offering and Solicitation Memorandum regarding the relevant procedures and timing to tender their Existing Unsecured Notes. For information on the Offers and Solicitation, holders of Existing Unsecured Notes may contact Prime Clerk, the Exchange and Information Agent for the Offers and Solicitation, at [phone] or, if outside the U.S. and Canada, at [phone].

THIS PRESS RELEASE IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITY. THE OFFERS AND SOLICITATION ARE BEING MADE SOLELY BY THE OFFERING AND SOLICITATION MEMORANDUM AND RELATED LETTER OF TRANSMITTAL THAT MAY BE OBTAINED FROM THE EXCHANGE AND INFORMATION AGENT AND ONLY TO SUCH PERSONS AND IN SUCH JURISDICTIONS AS IS PERMITTED UNDER APPLICABLE LAW. ANY PUBLIC OFFERING OF SECURITIES TO BE MADE IN THE UNITED STATES WILL BE MADE BY MEANS OF A PROSPECTUS THAT MAY BE OBTAINED FROM THE COMPANY OR THE SELLING SECURITY HOLDER THAT WILL CONTAIN DETAILED INFORMATION ABOUT THE COMPANY AND MANAGEMENT, AS WELL AS FINANCIAL STATEMENTS.

The 7.50% New Senior Secured Notes and any other securities offered in the Offers and Solicitation will not be registered under the Ley de Mercado de Valores No. 18,045 (the "Securities Market Law"), as amended, of Chile with the Superintendencia de Valores y Seguros (the Chilean Securities and Insurance Commission or "SVS"), and, accordingly, may not be offered or sold to persons in Chile except in circumstances that do not constitute a public offering under Chilean law.

Los valores que se emitan no serán registrados en la Superintendencia de Valores y Seguros de conformidad a la ley de Mercado de Valores No.18,045, por lo que de acuerdo a ello, no podrán ser ofrecidos a personas en Chile excepto en circunstancias que no constituyan una oferta pública de valores de acuerdo a ley Chilena.

About Automotores Gildemeister

Automotores Gildemeister is a vehicle importer and distributor primarily in Chile and Peru. Since 1986, the Company has been the sole distributor of Hyundai passenger and light commercial vehicles in Chile and since 2002, the sole distributor of Hyundai passenger, light commercial and heavy commercial vehicles in Peru.

Exchange and Information Agent

Prime Clerk, LLC
830 Third Avenue, 3(rd) Floor
New York, NY 10022
c/o Automotores Gildemeister Exchange Offer
[e-mail]
[phone]

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SOURCE Automotores Gildemeister