Empresa Distribuidora de Electricidad de Mendoza S.A. (EDEMSA) Announces Final Expiration and Tender Results of its Debt Tender Offer and Concurrent Consent Solicitation
By Empresa Distribuidora de Electricidad de Mendoza S.A. (EDEMSA)
BUENOS AIRES, Argentina, June 22, 2026 /PRNewswire/ -- Empresa Distribuidora de Electricidad de Mendoza S.A. (EDEMSA) (the "Company") announced today the final results in connection with its previously announced (i) tender offer (the "Offer") to purchase for cash any and all of its Outstanding 9.75% Step-up Notes due 2031 (the "Existing Notes") from each registered holder (each, a "Holder" and, collectively, the "Holders") and (ii) consent solicitation directed to Holders of Existing Notes for such Holders to provide their consents (the "Consents") to eliminate most of the restrictive covenants and certain affirmative covenants (the "Proposed Amendments") in the indenture governing the Existing Notes, dated as of July 28, 2025 (the "Existing Notes Indenture"), among the Company, The Bank of New York Mellon, as trustee, co-registrar, principal paying agent and transfer agent (the "Trustee") and Banco de Valores S.A., as registrar, transfer agent and paying agent in Argentina and representative of the Trustee in Argentina (the "Solicitation" and, together with the Offer, the "Offer and Solicitation"), pursuant to the terms and conditions set forth in the offer to purchase and consent solicitation statement dated May 20, 2026 (the "Offer and Solicitation Statement"). Capitalized terms used but not defined herein shall have the meanings assigned to them in the Offer and Solicitation Statement.
As of 5:00 p.m., New York City time, on June 18, 2026 (the "Expiration Time"), U.S.$126,155,000 aggregate principal amount of Existing Notes, representing approximately 84.10% of the outstanding Existing Notes, were validly tendered (and not validly withdrawn) in the Offer. The aggregate principal amount of Existing Notes validly tendered after the Early Tender Deadline but at or prior to the Expiration time was U.S.$10,000.
The aggregate cash consideration for each U.S.$1,000 principal amount of Existing Notes purchased pursuant to the Offer, payable in respect of Existing Notes validly tendered after the Early Tender Deadline but at or prior to the Expiration Time, is U.S.$950. The final settlement date on which the Company will settle the Existing Notes validly tendered after the Early Tender Deadline but at or prior to the Expiration Time is expected to be June 23, 2026 (the "Final Settlement Date"). The Company has accepted for purchase all Existing Notes validly tendered after the Early Tender Deadline. Holders of such Existing Notes will receive the Tender Offer Consideration, plus any Accrued Interest, on the Final Settlement Date.
On June 11, 2026, the Company (i) executed the Supplemental Indenture giving effect to the Proposed Amendments and (ii) paid the Early Tender Offer Consideration, plus Accrued Interest, with respect to the Existing Notes validly tendered (and not validly withdrawn) at or prior to the Early Tender Deadline. The Solicitation has been conducted in accordance with Section 14 of the Argentine Negotiable Obligations Law No. 23,576 (as amended by Argentine Productive Financing Law No. 27,440).
Morrow Sodali International LLC, trading as Sodali & Co, acted as the information and tender agent (the "Information and Tender Agent") for the Offer. Banco BTG Pactual S.A. – Cayman Branch, BofA Securities, Inc. and UBS Investment Bank acted as dealer managers and solicitation agents (the "Dealer Managers and Solicitation Agents") for the Offer and Solicitation. The Offer and Solicitation Statement and any related supplements may be accessed via the tender offer website https://projects.sodali.com/edemsa, or may be directed to Sodali & Co by telephone at +1 (203) 658 9457 or +44 (20) 4513 6933 or in writing at edemsa@investor.sodali.com.
Questions about the Offer and Solicitation may be directed to Banco BTG Pactual S.A. – Cayman Branch by telephone at +1 (646) 924-2500 (collect); BofA Securities, Inc. by telephone at +1 (888) 292 0070 (toll free) or +1 (646) 855 8988 (collect); and UBS Investment Bank by telephone at +1 (833) 690-0971 (toll free) or +1 (212) 882-5723 (collect).
Forward-Looking Statements
All statements in this announcement, other than statements of historical fact, are forward-looking statements. These statements are based on expectations and assumptions on the date of this announcement and are subject to numerous risks and uncertainties which could cause actual results to differ materially from those described in the forward-looking statements. Risks and uncertainties include, but are not limited to, market conditions, and factors over which the Company has no control. The Company assumes no obligation to update these forward-looking statements, and does not intend to do so, unless otherwise required by law.
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Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
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