COLBÚN, S.A. Announces Expiration Of Tender Offer For Any And All 4.500% Notes Due 2024

SANTIAGO, Chile, March 5, 2020 /PRNewswire/ -- COLBÚN, S.A., a publicly traded stock corporation (sociedad anónima abierta) organized under the laws of the Republic of Chile (the "Company") announced today that its previously announced cash tender offer (the "Tender Offer") for any and all of its outstanding 4.500% Notes due 2024 (the "Securities") expired at 5:00 p.m., New York City time, on March 4, 2020 (the "Expiration Date").

The Tender Offer was made pursuant to an offer to purchase dated February 20, 2020 (the "Offer to Purchase") and the related notice of guaranteed delivery (the "Notice of Guaranteed Delivery" and, together with the Offer to Purchase, the "Offer Documents"), which set forth the terms of the Tender Offer. As set forth in the table below, according to information provided by Global Bondholder Services Corporation, acting as the tender and information agent for the Tender Offer (the "Tender and Information Agent"), at or prior to the Expiration Date, a total of (i) U.S.$342,590,000 aggregate principal amount of the Securities had been validly tendered and not validly withdrawn.

On the terms and subject to the conditions set forth in the Offer Documents, the Company expects that it will accept for purchase all of the Securities validly tendered and not validly withdrawn on or prior to the Expiration Date, and all of the Securities delivered on or prior to the Guaranteed Delivery Date. The Company expects to pay the Purchase Price plus the accrued and unpaid interest on the Securities validly tendered and not validly withdrawn as of the Expiration Date on or around March 6, 2020, subject to the terms and conditions described in the Offer to Purchase.  The principal amount of Securities that will be purchased by the Company is subject to change based on deliveries of Securities pursuant to the guaranteed delivery procedures described in the Offer Documents. 

For additional information regarding the terms of the Tender Offer, please contact the dealer managers for the Tender Offer, BofA Securities, Inc., Attn: Liability Management Group, One Bryant Park, New York, NY 10036, (888) 292-0070 (toll-free), (646) 855-8998 (collect), J.P. Morgan Securities LLC, Attn: Latin American Debt Capital Markets, (866) 846-2874 (toll-free), (212) 834-7279 (collect), or Scotia Capital (USA) Inc. Attn: Debt Capital Markets, (800) 372-3930 (toll-free), (212) 225-5559 (collect).

All deliveries and correspondence sent to the Tender and Information Agent should be directed to Global Bondholder Services Corporation, 65 Broadway ? Suite 404, New York, New York 10006, Attn: Corporate Actions.

Neither the U.S. Securities and Exchange Commission, any U.S. state securities commission nor any regulatory authority of any other country has approved or disapproved of the Tender Offer, passed upon the merits or fairness of the Tender Offer or passed upon the adequacy or accuracy of the disclosure in the Offer Documents.

This press release shall not constitute an offer to purchase or a solicitation of acceptance of the offer to purchase, which were made only pursuant to the terms and conditions contained in the Offer Documents.

Forward-Looking Statements
Statements in this press release may be "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, which are subject to risks and uncertainties. Other than statements of historical fact, information regarding activities, events and developments that we expect or anticipate will or may occur in the future, including, but not limited to, information relating to our future growth and profitability targets and strategies designed to increase total bondholder value, are forward-looking statements based on management's estimates, assumptions and projections. Forward-looking statements also include, but are not limited to, statements regarding our future economic and financial condition and results of operations, the plans and objectives of management and our assumptions regarding our performance and such plans and objectives. Many forward-looking statements may be identified by the use of words such as "intend," "believe," "expect," "anticipate," "should," "planned," "projected," "estimated" and "potential," among others. Forward-looking statements contained in this press release are predictions only and actual results could differ materially from management's expectations due to a variety of factors, including those described in the section titled "Risk Factors" in the Offer to Purchase. All forward-looking statements attributable to us or persons working on our behalf are expressly qualified in their entirety by such risk factors. The forward-looking statements that we make in this press release are based on management's current views and assumptions regarding future events and speak only as of their dates. We assume no obligation to update developments of these risk factors or to announce publicly any revisions to any of the forward-looking statements that we make, or to make corrections to reflect future events or developments, except as required by the federal securities laws.

SOURCE Colbún, S.A.