MIAMI, Aug. 2, 2021 /PRNewswire/ -- On June 18, 2021, Alpha Holding S.A. de C.V., ("AlphaCredit" or the "Company"), a leading technology-enabled financial services company, executed a nondisclosure agreement (the "NDA") with various members of an ad hoc group of holders of the 10% Senior Notes Due 2022 and the 9% Senior Notes due 2025 (the "Group").
Since the execution of the NDA, the Group and its advisors had several telephone calls and email exchanges with the Company and its advisors, during which the parties explored a number of options to address AlphaCredit's balance sheet, including (without limitation) the terms of a potential restructuring transaction and new debt financing facilities, that would be provided by the Group or certain members thereof. The parties have exchanged various financing proposals, and the most recent term sheet submitted by the Company is attached here to as Annex I. During the restricted period, the Company shared the information contained in Annex II hereto (the "Cleansing Materials").
In connection with the chapter 11 cases of Alpha Latam Management, LLC, AlphaDebit S.A. de C.V., and certain of its affiliates that operate its Colombian business (the "Debtors"), which cases do not include AlphaCredit and its Mexican operating subsidiaries, the Group has agreed to provide debtor-in-possession financing for a senior secured facility in the amount of $45 million. The financing includes milestones for the Debtors to commence a sale of their assets during the chapter 11 cases.
The Company is represented by White & Case, Rothschild & Co, and AlixPartners. The Group is represented by Cleary Gottlieb Steen & Hamilton.
In addition to the disclaimers and qualifiers set forth in the materials themselves, all statements made in the Cleansing Materials are in the nature of settlement discussions and compromise, are not intended to be and do not constitute representations of any fact or admissions of any liability and are for the purpose of attempting to reach a consensual compromise and settlement. Nothing contained in the Cleansing Materials is intended to or shall be construed to be an admission or a waiver of any rights, remedies, claims, causes of action or defenses. The information contained in the Cleansing Materials is for discussion purposes only and shall not constitute a commitment to consummate any transaction, or otherwise take any decisions or actions contemplated in the Cleansing Materials.
Furthermore, the contents of the Cleansing Materials shall not be construed as guidance by the Company in relation to its future results, and the Company does not assume and expressly disclaims any responsibility to update such contents or information at any time.
This communication does not constitute an offer to sell or a solicitation of an offer to buy securities. This communication is not an offer to purchase or a solicitation of an offer to purchase with respect to any Notes or any other securities.
SOURCE Alpha Holding S.A. de C.V.
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