GUATEMALA CITY, Nov. 28, 2017 /PRNewswire/ — Intertrust SPV (Cayman) Limited, an ordinary company incorporated with limited liability under the laws of the Cayman Islands, acting solely in its capacity as trustee (the “Issuer”) of the Energuate Trust (the “Trust”), established pursuant to a Trust Deed dated December 24, 2016, announced today that it has commenced a solicitation (the “Solicitation”) of consents (the “Consents”) from the holders of its outstanding 5.875% Senior Notes due 2027 (the “Notes”), upon the terms and subject to the conditions set forth in a Consent Solicitation Statement (as it may be amended or supplemented from time to time, the “Statement”) and an accompanying Consent Form (as it may be amended or supplemented from time to time, the “Consent Form”), each dated as of November 28, 2017, to certain proposed amendments (the “Proposed Amendments”) to the Loan Agreement, dated as of May 3, 2017 (the “Loan Agreement”), by and among Distribuidora de Electricidad de Occidente, S.A. (“DEOCSA”) and Distribuidora de Electricidad de Oriente, S.A. (“DEORSA” and, together with DEOCSA, the “Parent Guarantors”), as borrowers, Credit Suisse AG, Cayman Islands Branch (the “Lender”) and The Bank of New York Mellon, as administrative agent.
The Notes were issued pursuant to an indenture, dated as of May 3, 2017 (the “Indenture”), by and among the Issuer, the Parent Guarantors and The Bank of New York Mellon, as trustee (the “Trustee”).
The Proposed Amendments will amend the Loan Agreement in connection with the sale by Inkia Energy Limited (“Inkia”), an exempted company organized under the laws of Bermuda with operations in Latin America and the Caribbean, and one of Inkia’s subsidiaries of substantially all of their assets, including approximately 91% of the equity interests in DEOCSA and approximately 93% of the equity interests in DEORSA, to holding companies indirectly owned by certain funds managed by I Squared Capital Advisors (US) LLC and one or more minority co-investors (the “Acquisition”).
The Proposed Amendments will be effected by an amendment to the Loan Agreement (the “Loan Agreement Amendment”) as described in more detail in the Statement.
The Solicitation will expire at 5:00 p.m., New York City time, on December 7, 2017, unless extended or earlier terminated (such time on such date, as the same may be extended or earlier terminated, the “Expiration Time”). The Solicitation is subject to customary conditions, including, among other things, the receipt of valid Consents with respect