Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria Decides to Extend the Expiration Date of the Exchange Offer for the Series XXIII Notes
June 29, 2022 at 02:50 pm EDT
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Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria, releases a supplemental notice to the subscription notice dated June 15, 2022, in order to inform the Eligible Holders that the Company has decided to extend the expiration date of its previously announced offer to exchange all of its USD 113,158,632 aggregate principal amount of outstanding 6.50% Series No. 23 Notes due 2023 for 8.00% Series No. 38 Notes due 2026 to be issued.
CRESUD hereby extends the expiration date to July 6, 2022, and informs that the Issue and Settlement date will be on July 8, 2022. According to information provided by the exchange agent, on June 28, 2022, USD 74,506,286 aggregate principal amount of the Existing Notes were validly tendered and were not validly withdrawn, which represents 65.84% of the outstanding aggregate principal amount of the Existing Notes. Of the aggregate principal amount of Tendered Notes, (i) USD 20,888,700, representing approximately 28.04% of the principal amount of Tendered Notes, were tendered under Option A, and (ii) USD 53,617,586, representing approximately 71.96% of the principal amount of Tendered Notes, were tendered under Option B.
Cresud SACIF y A is an Argentina-based company engaged mainly in telecommunications sector. Through its subsidiaries, it operates two segments: Agricultural Business and Urban Properties and Investment Business, which is divided into: Operations Center Argentina and Operations Center Israel. Agricultural Business focuses on acquiring, developing and exploiting agricultural properties. It is involved in farming activities, cattle raising, leasing land to third parties and perform agency and agro-industrial services, including a meat packing plant. Operations Center Argentina is engaged in the development, acquisition and operation of shopping malls, offices and hotels, among others, in Argentina, and owns selective investments outside Argentina. Operations Center Israel includes real estate activities in Israel and abroad, supermarket chain management and telecommunications services, both locally, as well as is engaged in the insurance, pension and provident funds, among others.
Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria Decides to Extend the Expiration Date of the Exchange Offer for the Series XXIII Notes