Industrias Metalurgicas Pescarmona S.A.I.C. Y F. And WPE International Coöperatief U.A. Announce Extension Of Notices Of Settlement Instructions And Expiration Deadline To Send Certification Or Instruction Letters Under Their Respective Settlement Instructions

BUENOS AIRES, Argentina, July 20, 2018 /PRNewswire/ -- Industrias Metalúrgicas Pescarmona S.A.I.C. Y F. (pending registration of the change of its legal name to 'IMPSA S.A.', hereinafter "IMPSA") and WPE International Coöperatief U.A. ("WPE International") announced today the extension of the notices of settlement instructions and the expiration deadline to validly deliver certification or instruction letters, subject to the terms and conditions contained in each of IMPSA's and WPE International's Settlement Instructions dated June 14, 2018, which we refer to collectively as the "Settlement Instructions".  Unless otherwise defined herein, terms defined in the Settlement Instructions are used herein as therein defined.

As of 5:00 p.m., New York City time, on July 19, 2018, (i) certification or instruction letters from creditors holding approximately U.S.$18.8 million aggregate principal amount of IMPSA's existing notes, which amount represents 85.44% of the total aggregate principal amount of IMPSA's existing notes, had been submitted, and (ii) certification or instruction letters from creditors holding approximately U.S.$364.4 million aggregate principal amount of WPE International's existing notes, which amount represents 93.43% of the total aggregate principal amount of existing notes of WPE International's existing notes, had been submitted.

Each of IMPSA and WPE International announced the extension of the notices of settlement instructions and the expiration deadline to validly deliver certification or instruction letters pursuant to each of the Settlement Instructions from midnight, New York City time, on July 19, 2018 to 5:00 p.m., New York City time, on August 3, 2018.  Each of IMPSA and WPE International also announced that each of the indentures pursuant to which the applicable discount notes will be issued will be dated on or before the extended expiration deadline and that the date on which the discount notes are expected to be issued pursuant to each of the Settlement Instructions is expected to be August 9, 2018.

The discount notes will be settled in furtherance of the Restructuring Plan and in accordance with the terms and conditions of each of the Settlement Instructions.  A description of the Restructuring Plan, including the terms of the Discount Notes, is available in Spanish and in English at http://www.cnv.gob.ar/info_financiera.asp. The indentures under which IMPSA's discount notes will be issued will be available in English at: http://www.cnv.gob.ar/info_financiera.asp.

D.F. King & Co., Inc. is the settlement agent under each of the Settlement Instructions.

Questions regarding each of the Settlement Instructions should be directed to IMPSA or WPE International, as applicable, and the settlement agent at the contact information below:

Address in the Province of Mendoza, Argentina:
Carril Rodriguez Pe?a 2451
Godoy Cruz, Mendoza, Argentina
Telephone: 54-261-413-1300

Address in the City of Buenos Aires, Argentina:
Reconquista 1056, 7th floor
C1003ACW
Buenos Aires, Argentina
Telephone: 54-11-5071-0800

D.F. King & Co., Inc.
48 Wall Street, 22nd Floor,
New York, NY 10005
Telephone: (212) 269 ? 5550
All others call Toll Free: (866) 751-6312
Email: [email protected]

Requests for documentation should be directed to the settlement agent.

Beneficial owners of existing notes of IMPSA or WPE International should carefully read each of the Settlement Instructions regarding the relevant procedures and timing to validly deliver certification or instruction letters thereunder.

THIS PRESS RELEASE IS NOT AN OFFER FOR SALE OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES OR IN ANY OTHER JURISDICTION WHERE SUCH OFFER IS PROHIBITED, AND SUCH SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED.  IMPSA AND WPE INTERNATIONAL DOES NOT INTEND TO REGISTER ANY SUCH SECURITIES IN THE UNITED STATES OR TO CONDUCT A PUBLIC OFFERING OF SUCH SECURITIES IN ANY JURISDICTION EXCEPT FOR THE NOTES TO BE ISSUED TO THE HOLDERS OF 11.25% SENIOR NOTES DUE 2014, WHICH PUBLIC OFFERING HAS BEEN AUTHORIZED IN ARGENTINA.

SOURCE Industrias Metalúrgicas Pescarmona S.A.I.C. Y F.