Grupo Elektra, S.A.B. de C.V. Announces Redemption of USD 229,502,000 Aggregate Principal Amount of 7.25% Senior Notes Due 2018
January 19, 2017 at 10:43 am EST
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Grupo Elektra, S.A.B. de C.V. announced that, pursuant to the terms of Article V of the Indenture dated as of August 4, 2011, as supplemented by the First Supplemental Indenture dated as of October 25, 2011, the Second Supplemental Indenture dated as of January 5, 2012, the Third Supplemental Indenture dated as of January 10, 2012, the Fourth Supplemental Indenture dated as of February 3, 2012, the Fifth Supplemental Indenture dated as of February 14, 2012, the Sixth Supplemental Indenture dated as of February 14, 2012, the Seventh Supplemental Indenture dated as of April 20, 2012, the Eighth Supplemental Indenture dated as of April 23, 2012, the Ninth Supplemental Indenture dated as of October 16, 2012, the Tenth Supplemental Indenture dated as of January 15, 2013, the Eleventh Supplemental Indenture dated as of January 31, 2013, the Twelfth Supplemental Indenture dated as of June 17, 2013, the Thirteenth Supplemental Indenture dated as of February 25, 2014, the Fourteenth Supplemental Indenture dated as of April 23, 2015 and the Fifteenth Supplemental Indenture dated as of April 22, 2016, among Grupo Elektra, S.A.B. de C.V., each of the guarantors named therein and The Bank of New York Mellon, as trustee, the company will redeem on February 20, 2017 the outstanding USD 229,502,000 aggregate principal amount of notes at a redemption price of USD 233,661,723.75, which is equal to 101.8125% of the principal amount of notes redeemed, plus accrued and unpaid interest thereon, to, but not including, the redemption date equal to USD 647,068.14, which payment shall be effective as of February 20, 2017 and will be paid on February 21, 2017 as February 20, 2017 is a Legal Holiday. The aggregate principal amount of notes to be redeemed is USD 229,502,000 and no notes will remain outstanding after the redemption.
Grupo Elektra SAB de CV (Elektra) is a Mexico-based company primarily engaged in the banking and retailing sector. The Company is a financial services and specialty retailing company in Mexico and Central and South America, as well as a short-term non-bank loan provider in the United States. Its Retail Business segment comprises the sale of motorcycles, cell phones, appliances in general, electronics, furniture, among others; and provision of services, such as electronic money transfers, extended guarantees, airtime, and mobile virtual network operation. Its Financial Business segment provides banking and financial products and services like consumer credit, personal loans, commercial loans, savings accounts, term deposits, debit cards, credit cards, life and casualty insurance, retirement fund management options, brokerage services, and short-term non-bank loans. Elektra operates more than 7,000 points of contact, including approximately 4,600 in Mexico; close to 600 in Central and So