Empresa Eléctrica Angamos SpA Announces Expiration and Final Tender Results of its Offer to Purchase for Cash Any and All of its Outstanding 4.875% Senior Secured Notes due 2029

SANTIAGO, Chile, Oct. 6, 2020 /PRNewswire/ -- Empresa Eléctrica Angamos SpA ("Angamos" or the "Company") today announced the final results of the previously announced offer to purchase for cash (the "Tender Offer") of any and all of its 4.875% Senior Secured Notes due 2029, listed in the table below (collectively, the "Notes"). The Tender Offer for the Notes expired at 11:59 p.m., New York City time, on October 5, 2020 (the "Expiration Date") and Angamos has accepted all Notes validly tendered as of the Expiration Date. Capitalized terms used in this announcement and not otherwise defined shall have the meanings assigned to them in the Company's Offer to Purchase, dated September 8, 2020 (the "Offer to Purchase").

According to information received from Global Bondholder Services Corporation ("GBSC"), the Tender, and Information Agent for the Tender Offer, as of the Expiration Date, Angamos had received valid tenders and consents from holders of the Notes as outlined in the table below.

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Of the aggregate principal amount of Notes tendered as of the Expiration Date shown in the table above, $255,457,297.50 principal amount of the Notes (or 65.77% of the principal amount outstanding at that time) were validly tendered and not withdrawn on or prior to the Early Tender Time. Angamos accepted all such Notes for purchase and the Early Settlement Date for all such Notes was on September 23, 2020, on which date such Notes were cancelled. Holders of such Notes received the Total Consideration, which included the Early Tender Premium, multiplied by the Scaling Factor (as set forth in the table above), plus accrued and unpaid interest up to, but not including, the Early Settlement Date.

A total of $51,920,440 principal amount of Notes (or 13.37% of the principal amount outstanding) were validly tendered after the Early Tender Time and on or prior to the Expiration Date and Angamos has accepted all such Notes for purchase. The Final Settlement Date for such Notes will be October 7, 2020. As described in the Offer to Purchase, as amended by the press release issued by Angamos on September 22, 2020, Holders of such Notes will receive the Total Consideration (as set forth in the table above), which includes the Early Tender Premium, multiplied by the Scaling Factor (as set forth in the table above), plus accrued and unpaid interest up to, but not including, the Final Settlement Date.

Full details of the terms and conditions of the Tender Offer are set forth in the Offer to Purchase, which is available from GBSC.

Citigroup Global Markets Inc. ("Citigroup") is the Global Coordinator in the Tender Offer. Citigroup, Itau BBA USA Securities, Inc. ("Itaú BBA"), Santander Investment Securities Inc. ("Santander") and SMBC Nikko Securities America, Inc. ("SMBC Nikko") are the Dealer Managers in the Tender Offer. Persons with questions regarding the Tender Offer should contact Citigroup at (toll free) (800) 558-3745 or (collect) (212) 723-6106, Itaú BBA at (collect) (212) 710-6749, Santander at (toll free) (855) 404-3636 or (collect) (212) 940-1442, or SMBC Nikko at (toll free) (888) 868-6856.  Requests for the Offer to Purchase should be directed to GBSC at (toll free) (866) 470-3700 or (collect) (212) 430-3774 or email at [email protected].

None of the Company, its board of directors, its officers, the dealer managers, the depositary, the tender and information agent or the trustees with respect to the Notes, or any of their respective affiliates, makes any recommendation that holders tender or refrain from tendering all or any portion of the principal amount of their Notes, and no one has been authorized by any of them to make such a recommendation. Holders must make their own decision as to whether to tender their Notes and, if so, the principal amount of Notes to tender.

This press release is not an offer to purchase or a solicitation of an offer to purchase with respect to any Notes or any other securities. The Tender Offer is being made solely pursuant to the terms of the Offer to Purchase. The Tender Offer is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. The Offer to Purchase does not constitute an offer to purchase in Chile or to any resident of Chile, except as permitted by applicable Chilean law.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934 that are not based on historical facts and are not assurances of future results. These forward-looking statements are based on management's current expectations and estimates about future events and financial trends, which affect or may affect the Company's businesses and results of operations. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect" and similar words are intended to identify estimates and forward-looking statements. These statements include but are not limited to forward-looking statements about the Tender Offer, including whether the Tender Offer is consummated in whole or in part. Although the Company believes that these forward-looking statements are based upon reasonable assumptions, these statements are subject to several risks and uncertainties and are made in light of information currently available to the Company. Estimates and forward-looking statements involve risks and uncertainties and are not guarantees of future performance. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations and the Company's future results may differ materially from those expressed in these estimates and forward-looking statements.

All forward-looking statements are expressly qualified in their entirety by this cautionary statement, and you should not place reliance on any forward-looking statement contained in this press release. 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.

SOURCE Empresa Eléctrica Angamos SpA

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