AlphaCredit© Announces Successful Results Of The Consent Solicitation For Senior Notes

MEXICO CITY, March 11, 2020 – —

Summary

Alpha Holding, S.A. de C.V.,  (“AlphaCredit” or the “Company“), a technology-enabled financial platform specialized in consumer lending and financial solutions for small and medium enterprises (“SMEs”), communicated today the successful results of its previously announced consent solicitation involving its international senior notes.

The Company recognizes and acknowledges the cooperation of the international investment community in ensuring a successful outcome for this transaction, and looks forward to a continued mutually beneficial relationship with all its noteholders.

The Consent Solicitation

As of 5:00 p.m., New York City time, on March 11, 2020 (the “Expiration Date“) holders of US$208,710,000 aggregate principal amount of its 10.000% Senior Notes due 2022 (the “Notes“), or approximately 69.6% of the outstanding principal amount of the Notes, had validly delivered their consents pursuant to the consent solicitation (the “Consent Solicitation“), upon the terms and conditions described in the Company’s Consent Solicitation Statement, dated March 4, 2020 (the “Statement“).

Based on the number of consents delivered pursuant to the Consent Solicitation on or prior to the Expiration Date, holders of at least a majority of the outstanding principal amount of Notes have validly delivered consents to certain proposed amendments as described in the Statement (the “Proposed Amendments“).  As a result, the Proposed Amendments are expected to become effective on or promptly following the date hereof upon the execution of the supplemental indenture to the indenture governing the Notes.

The revocation deadline for the Consent Solicitation has passed and therefore consents that have been validly delivered cannot be revoked. The settlement date on which the Company expects to pay consenting holders the consent payment of US$2.50 per US$1,000 principal amount of Notes for which consents were delivered and accepted in the Consent Solicitation is expected to be March 13, 2020.

The supplemental indenture reflecting the Proposed Amendments will be effective immediately upon execution thereof but will not become operative until the consent payments are paid with respect to the Notes. Holders of Notes for which no consent was delivered will not receive the consent payment, even though the Proposed Amendments, once operative with respect to the Notes, will bind all holders of such Notes and their transferees.

Goldman Sachs & Co. LLC was the solicitation agent in the Consent Solicitation and D.F. King & Co., Inc. was retained to serve as the tabulation, information and paying agent. Persons with questions regarding the Consent Solicitation should contact Goldman Sachs & Co. LLC at (toll free) (800) 828-3182 or (collect) (212) 357-1452. Requests for the Statement should be directed to D.F. King & Co., Inc. at (toll free) (800) 591-8238 or by email to [email protected].  

This press release is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any security. Neither the Statement nor any documents related to the Consent Solicitation have been filed with, and have not been approved or reviewed by any federal or state securities commission or regulatory authority of any country.  No authority has passed upon the accuracy or adequacy of the Statement or any documents related to the Consent Solicitation, and it is unlawful and may be a criminal offense to make any representation to the contrary.

Forward-Looking Statements

This press release contains forward-looking statements.  Forward-looking statements are information of a non-historical nature or which relate to future events and are subject to risks and uncertainties.  No assurance can be given that the transactions described herein will be consummated or as to the ultimate terms of any such transactions. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason.

About AlphaCredit© 

AlphaCredit© is a leading and one of the fastest growing technology-enabled financial platforms in Latin America, providing consumer loans and financial solutions for individuals and SMEs in Mexico and Colombia through innovative solutions and cutting-edge technology.

Contact

Juan Jose Sainz

CFO
[email protected]

María Isabel Muñoz 

Head of Funding and Investor Relations

+52 (55) 4170-4251
[email protected]

SOURCE Alpha Holding, S.A. de C.V.

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