THE CITY OF BUENOS AIRES ANNOUNCES TERMINATION OF CASH TENDER OFFER FOR 7.500% SERIES 12 NOTES DUE 2027
BUENOS AIRES, Argentina, Dec. 10, 2024 /PRNewswire/ -- The City of Buenos Aires (the "City"), as offeror, announced today the termination of the previously announced offer to purchase for cash (the "Tender Offer") up to U.S.$550,000,000 aggregate principal amount (the "Maximum Tender Amount") of its 7.500% Series 12 Notes due 2027 (the "Notes"). All Notes tendered in the Tender Offer will be returned promptly to the respective holders thereof without any action required on the part of the holders. No consideration will be paid in the Tender Offer for any tendered Notes.
The Tender Offer was subject to the conditions set forth in the Offer to Purchase, dated December 2, 2024, whereby the City reserved the right, in its sole and absolute discretion, not to accept any tenders for any reason. The City has been advised that, as of the expiration time of the Tender Offer, U.S.$319,490,000 in aggregate principal amount of Notes, or approximately 35.90% of the Notes outstanding, were validly tendered pursuant to the Tender Offer. Because participation in the Tender Offer did not reach the Maximum Tender Amount or a lesser amount sufficient, in the City's opinion, to justify the issuance of refinancing notes, the City has decided not to move forward with the offering of new notes under its U.S.$2,290,000,000 Medium Term Note Programme. This press release confirms the termination of the Tender Offer.
The Tender and Information Agent for the Tender Offer was D.F. King & Co., Inc. To contact the Tender and Information Agent, banks and brokers may use the following contact information:
In London: | In New York: | In Hong Kong: |
51 Lime Street London EC3M 7DQ
| 48 Wall Street, New York, New United States Telephone: +1 212 Toll Free: 888-644- | Suite 1601, 16/F, 28 Queen's Road Hong Kong Telephone: +852 |
The Dealer Managers for the Tender Offer were BofA Securities, Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, and Santander US Capital Markets LLC. Any questions or requests for assistance may be directed to:
BofA One Bryant | Deutsche Bank 1 Columbus Circle | J.P. Morgan 383 Madison | Santander US Capital 437 Madison Avenue |
New York, United States
Toll-Free: 1 | New York, New United States of Attn: Liability Collect: +1 (212) Toll-Free:+ 1 (866) | New York, NY United States of Attn: Latin Capital Markets Collect: +1 | New York, NY, 10022 United States of America
Toll Free: (855) 404-3636 |
Banco Santander Argentina S.A. and Banco de Galicia y Buenos Aires S.A.U. (collectively, the "Argentine Information Agents") acted as local information agents in Argentina in connection with the Tender Offer. The contact information for the Argentine Information Agents is as follows: (1) Banco Santander Argentina S.A. Institutional Sales, Telephone: +54(11)4341-1140, mcolloca@santanderrio.com.ar, dgaido@santander.com.ar, gohammoe@santander.com.ar, gosimon@santander.com.ar; (2) and Banco de Galicia y Buenos Aires S.A.U. Telephone: +54 (11)3766-0421, juan.roldan@bancogalicia.com.ar
In addition, holders may contact their broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Tender Offer.
This notice does not constitute or form part of any offer or invitation to purchase, or any solicitation of any offer to sell, the Notes or any other securities in the United States or any other country, nor shall it or any part of it, or the fact of its release, form the basis of, or be relied on or in connection with, any contract therefor.
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SOURCE The City of Buenos Aires
